Funds utilized to expand product and technology development, marketing, sales and brand-building initiatives
Bridgeport, Connecticut - January 12, 2010 - Solais Lighting, Inc., the leading manufacturer of specification-grade, high-output LED lamps, announced today the close of its Series A investment, totaling more than $2.3 million. The investment round was led by Tim Davis, managing director of FreshTracks Capital, and Will Cowen, managing partner of Long River Ventures, who both joined the Solais board of directors. In addition, eight angel investors participated in the round.
Founded in 2008, Solais Lighting is respected as a market-driven lamp manufacturing company that has designed the world’s premier LED lamps to replace high-efficiency halogen reflector lamps. Solais’ patent-pending lighting products have superior light output, focused beams and full-dimming features.
“We see many funding opportunities in lighting and technology at FreshTracks, but Solais Lighting stands out as a smart solution with a proven team,” said Davis. “We are very confident that Solais will build a dominant position in the rapidly growing LED lighting space. We are thrilled to join its team.”
“At a time when venture-capital funding for start-ups is historically low, I am grateful to have both the advisory and financial support of such high-caliber institutions and angel investors,” said James Leahy, president of Solais Lighting. “We will utilize these funds to expand our product development, marketing, sales and brand-building initiatives to accelerate our growth and position us as the premier provider of high-output LED products.”
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