Nualight Raises €9.1M

Nualight Ltd, a Cork, Ireland-based manufacturer of LED lighting solutions to the retail sector, has raised €9.1m in a funding round.
The investment was led by the €200m Climate Change Capital Private Equity fund (CPE), a vehicle dedicated to investments in clean technology companies.
CPE subscribed for €3.75m (of ordinary and preference shares) in a €4.1m round alongside existing shareholders and committed a further €5m jointly with existing investor ESB novusmodus, the renewable energy investment fund of ESB, the Irish State electricity company.
Other investors include 4th Level Ventures, an early stage technology fund and existing shareholder.
Nualight’s LED light fixtures are used for illuminating display cases in international food and high-end retail chains. Supermarket customers include Tesco plc, Switzerland’s Migros and Co-op chains and Rewe in Germany. Nualight also supplies under private label contracts to leading global companies.

In conjunction with the funding, Simon Drury, a CPE Partner, will take a seat on Nualight’s Board of Directors.
The company also has global outsourcing partners in Europe and North America.

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