Element Labs, a creative LED maker, raises $12.75M
Besides straightforward environmental lighting, there are a plethora of uses for light-emitting diodes. Element Labs makes its business in LED applications like advertising, concert lighting, decoration and art installations.
Some of the Element’s displays have appeared at concerts by celebrities like Led Zeppelin and Madonna, and on TV programs including American Idol and the MTV Awards. The company plans on using this funding round to expand sales and international marketing efforts.
The funding is the company’s second. Of the total amount, Expansion Capital Partners led with $10 million, while Sierra Ventures and Gold Hill, a lender, pitched in for the remaining $2.75 million.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.