HomefundingLumaStream Raises $10M in Series B Funding

LumaStream Raises $10M in Series B Funding

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lumastreamLumaStream, a St. Petersburg, FL.-based developer of end-to-end low-voltage systems for LED lighting, closed a $10m tranche of its Series B funding.

Backers included a Toronto, ON-based investment group. In addition to the round, a new board member, Jonathan Webster, and two new advisors, W. Geoffrey Beattie and Anthony Caldarone, joined Lumastream.

The funding will expand its capacity to fulfill orders from hospitality and multi-site retail customers. An additional $3m is to be raised to accelerate research and development, prototyping capacity, and international expansion.

Led by Eric Higgs, CEO, LumaStream offers a patented, digital power conversion platform paired with luminaires and open source control protocol to commercial, institutional, residential, retail, and hospitality markets. Its system leverages speaker wire to carry low-voltage power to LED fixtures. The same wire also controls and dims the LEDs.
The company will soon move the production of its technology from Waterloo, Canada to St. Petersburg partnering with local contract manufacturers.

FinSMEs

18/02/2014

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