LEDCity raises 2 million francs

Zurich – LEDCity has received 2 million Swiss francs in an additional financing round. The company intends to use the newly acquired capital, which now totals CHF 5 million, to drive forward the development of its energy-saving lighting modules.

LEDCity, a Zurich start-up in the cleantech sector, has secured CHF 2 million in a further financing round. According to a press release, the company was able to secure a total of CHF 5 million in funding within a period of twelve months. The secured Series A financing will enable LEDCity to further consolidate its role as a leading innovator in the cleantech sector, according to the press release. "With the new funding from our investors, we are well positioned to respond to growing demand and advance our mission to reduce dependence on fossil fuels by redefining lighting," Patrik Deuss, CEO and founder of LEDCity, is quoted as saying in the press release.

LEDCity has developed a lighting solution that is designed to reduce electricity consumption by up to 80 percent. The company wants to use this to replace traditional motion detectors in commercial buildings. The innovative system controls the lighting on site using sensors and algorithms directly in the light source. This means that every area of a building can be illuminated exactly as required. With the additional financing, the company aims to meet the demand for these intelligent and energy-efficient systems on the national and international market, according to the press release. ce/eb

View full article