Illumitex Raises US $16M to Expand Grow Light Sector

 Illumitex announced it has concluded its C1 round of funding, strengthening the company's cash position by US $16 million.

The round was led by outside investor WP Global Partners, a strategic partner particularly interested in solidifying and growing Illumitex's position and the world's leading maker of LED grow lights for horticultural applications. Buoyed by the confidence shown by WP Global Partners, existing investors NEA, Morgan Creek Capital, Mousse Partners, Apex Venture Partners, Jimmy Treybig, Larry Abrams, DMWMDW Interests and Syngenta Ventures also participated in the round.

"The addition of WP Global to our investor roster speaks to the confidence the investing community has in our horticulture lighting division," says Illumitex chief financial officer Carl Gallagher. "And the fact that almost all of our existing investors joined in this round is another vote of confidence."

On the heels of closing its funding round, Illumitex was named to the Austin A-List, an honor be- stowed by the city's Chamber of Commerce upon the area's top 12 most promising startups. Illumitex was selected by a panel of independent judges from more than 275 nominations.

Illumitex LED grow lights are growing basil, spinach, kale and many other vegetables in numerous vertical farms around the world. As our planet runs out of water and arable land, alternative growing methods will likely prove humankind's salvation. Illumitex plans to be a part of that salvation by developing lighting solutions that grow more food faster in more places. Our lights give plants the exact spectrum they need to maximize photosynthesis and therefore growth and production.

Led by CEO Chris Hammelef, Illumitex uses its patented LED optics systems in all of its fixtures, delivering more usable light per watt of energy expended than other any LED manufacturer. The company's Digital Distribution™ system means the entire plant canopy receives evenly distributed light.

In addition to its groundbreaking horticulture fixtures, Illumitex also makes lights for the architectural, industrial and beauty sectors.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Tokushima, Japan - 6 March 2024: Nichia, the world's largest LED manufacturer and inventor of the high-brightness blue and white LED, has started mass production of the new UV-B (308nm) and UV-A (330nm) LEDs in its popular 434 Series packa... READ MORE

New XLamp® S Line LEDs enhance growth, last longer, lower energy costs Horticulture and other forms of agricultural lighting require application-tuned ratios of spectral content, high efficacy and long lifetimes. Whether you are interested... READ MORE