Illumitex Raises $16M to Continue Expansion in Grow Light Sector
AUSTIN, TEXAS — August 12, 2015 Illumitex Inc., LED innovator and maker of the world’s most optically advanced lighting products, today announced it has concluded its C1 round of funding, strengthening the company’s cash position by $16M.
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 bestowed 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.