Illumitex Inc. of Austin, Texas, a producer of advanced LED-based grow lights, announced it has concluded its C1 round of funding. The company says that the funding round led by ed by outside investor WP Global Partners strengthens the company’s cash position by $16M. Existing investors NEA, Mousse Partners, Morgan Creek Capital, Apex Venture Partners, Larry Abrams, Jimmy Treybig, Syngenta Ventures, and DMWMDW Interests also participated in the round.
“The addition of WP Global to our investor roster speaks to the confidence the investing community has in our horticulture lighting division,” said Illumitex chief financial officer Carl Gallagher. “And the fact that almost all of our existing investors joined in this round is another vote of confidence.”
Just before the closing its funding round, Illumitex was named to the Austin A-List, an honor that Austin’s Chamber of Commerce bestows upon the area’s top 12 most promising startups. A panel of independent judges selected Illumitex from more than 275 nominations.
Illumitex says its LED grow lights are growing spinach, kale, basil and many other vegetables in numerous vertical farms around the world. Such vertical farms are expected to become more important as food sources as water and arable land become more scarce. Illumitex plans to develop lighting solutions that grow more food faster and in more places. The company says its lights give plants the exact spectrum they require to maximize photosynthesis, growth, and production.
The company led by CEO Chris Hammelef uses its patented LED optics systems in its fixtures. Illumitex claims that its fixtures can deliver more usable light per watt of energy expended than other any LED manufacturer. According to the company, its Digital Distribution™ system ensures that the entire plant canopy receives evenly distributed light.
In addition to its horticulture fixtures, Illumitex also produces LED-based lights for the architectural, industrial and beauty sectors.