Lighting

Aledia LED attracts IKEA among others in $31m Series B financing

Aledia, a developer and manufacturer of 3D LEDs based on its Gallium-Nitride-on-Silicon platform, recently announced the closing of its Series B financing round and the execution of development and supply contracts with major LED buyers. IKEA GreenTech, the venture capital arm of IKEA, and the Ecotechnologies fund of Bpifrance, the French national industrial bank, were among those participating in a Series B funding round by Aledia, a Grenoble, France-based maker of LED lighting, which has closed on about €28.4m (approximately $31 million). Other participants in the funding round included Valeo, an automobile-equipment maker, while existing Aledia investors Sofinnova Partners, Braemar Energy Ventures, Demeter Partners and CEAi/ATi joined in as well. "This financing round, abundantly oversubscribed, and particularly the presence of two very large potential corporate customers, testifies to the interest that our cost-disruptive nanowire LED technology is generating in the customer base, as well as in the financial community", said Giorgio Anania, CEO, chairman, and […]

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