Wireless Environment takes $400K for LEDs
Wireless Environment, an Elyria, Ohio company specializing in energy-efficient light emitting diode (LED) fixtures, has brought in $400,000 from JumpStart, an Ohio business development organization. It will use the new funds to develop a set of controls governing when its lighting systems turn on and off and how brightly they shine. JumpStart stepped in when the company was unable to muster support from venture capital firms, reports VentureWire.
Wireless Environment currently has two products on the market: a motion-sensitive LED spotlight and an LED hallway light powered by batteries. The small startup was able to raise financing in the past from the Innovation Fund of the Lorain County Community College Foundation, and it nabbed a development loan from Cuyahoga County.
Next Story: Domain marketplace NameMedia cancels IPO
Previous Story: An end to “dupes” on Digg?
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.