Redwood Systems, a Fremont, California-based developer of network-based lighting power and control systems, has secured $15m in Series B financing.
The round was led by Index Ventures, with participation from existing funders Battery Ventures and U.S. Venture Partners.
Redwood Systems’ platform is designed to provide an innovative way businesses power and control lighting to reduce energy costs and improve building performance. The funds will enable the company to enhance its innovative commercial lighting technology, establish strategic sales channels and expand into international markets.
In conjunction with the funding, Neil Rimer, co-founder and partner of Index Ventures, will join Redwood’s board of directors.
FinSMEs
13/10/2010