LumiGrow, a Emeryville, California-based smart horticultural lighting company, completed a $5.1m bridge financing.
Backers included Ecosystem Integrity Fund, as well as new investors, ValueAct Spring Master Fund, L.P. and Greenhouse Capital. In conjunction with the funding, Kelly Barlow, a Partner at ValueAct Capital, joined LumiGrow’s Board of Directors.
The company intends to use the funds to continue to to accelerate the development of its products.
Led by CEO Shami Patel, LumiGrow provides smart horticultural LED lighting solutions, which – utilizing data gathered through its smartPAR software application and recently introduced smartPAR Light Sensor Module – give growers the ability to improve plant quality, boost crop yields, and achieve cost-saving operational efficiencies.
The company offers a range of proven grow light and software solutions for use in greenhouses, controlled environment agriculture and research chambers.