Analysis

Bridgelux raises an additional $15 million of financing to further accelerate GaN-ON-Silicon development

9th November 2011
ES Admin
0
Bridgelux Inc. has announced that it has closed an additional $15 million in financing raised specifically to further accelerate research, development, and scaling of the company’s leading position in GaN-on-Silicon LED chip technologies, targeted for commercialization in 2013.
The financing round, which was oversubscribed, was quickly filled out by existing financial and strategic investors in response to company reports indicating additional capital could further accelerate Bridgelux’sGaN-on-Silicon program. Included in the round areVantagePoint Capital Partners, DCM, El Dorado Ventures, Novus Energy Partners, IFA, Chrysalix, Harris & Harris Group, Craton Equity Partners, Jebsen Asset Management, and Passport Capital among others.

“By continuing to drive down the cost of solid state solutions for general lighting, Bridgelux is helping to expand the market for these solutions, which we expect to grow from $3 billion in 2011 to more than $25 billion in 2015, generating strong growth for our company and our investors,” said Bill Watkins, Bridgelux’s Chief Executive Officer. “We are very pleased with the progress of our GaN-on-Silicon program. This additional capital will further accelerate our breakthrough development efforts in producing commercial grade LEDs on silicon while we continue to deliver the industry’s leading GaN-on-Sapphire array solutions.”

Featured products

Upcoming Events

View all events
Newsletter
Latest global electronics news
© Copyright 2024 Electronic Specifier