WSJ: Investors Pack $16M Into Illumitex for LEDs as Medical Marijuana Gains
By Yuliya Chernova
Wall Street Journal, Venture Capital Dispatch Blog
August 11, 2015
Lighting company Illumitex Inc. is illuminating not buildings and streets, but plants like marijuana. The growth in its market has helped the company secure a new round of funding, as Dow Jones VentureWire reported.
The Austin, Texas-based company’s light emitting diode lamps can be customized to produce wavelengths and intensity specific to facilitating the growth of a particular plant. Illumitex’s lamps are mostly used to grow greenhouse tomatoes and leafy greens indoors, but medical marijuana is a newer and advancing market, said Chief Executive Chris Hammelef. The company is also exploring the use of its lights in human skin-care, such as for acne and in anti-aging.