Puri new round of financing $40 million

In April 8, 2008, for high brightness, solid-state lighting market LED technology supplier Bridgelux (BridgELux) announced that has completed approximately $40 million gross ($30 million of private equity investors, bank credit loans of about $10 million) in the latest round of capital financing. The asset allows Bridgelux to continue its research and development activities, but also to promote its expansion of production lines and market expansion strategy.

This round of financing by the new investor VentureTech Alliance led to complete, the existing investors DCM El, Dorado Ventures, VantagePoint Chrysalix, Energy Venture and Capital Harris & Harris Group also participated in the follow-up investment.

Market research firm Strategies Unlimited budget over the next 5 years, LED market CAGR (CAGR) up to 20%. Only a bright LED, in 2008 the growth rate is 12%, and the application of LED in other fields have also been exposed market opportunities, including display backlight, camera flash, architectural lighting, lamps, and other common tasks of commercial lighting applications. LED market value is expected to reach $11 billion 400 million by 2012.

Bridgelux CEO said, Bridgelux not only has the strong technical strength in the structure of the equipment and chip design of Gan epitaxial technology, but also have rich knowledge of the market, this is the company to become the market leader in high power LED capital. The latest round of financing reflects the company's confidence in its business strategy and technology, and this will enable the company to further increase the output of LED chips, the company's share of the company's LED lighting market.

Source: China Semiconductor Lighting Network