BridgeLux Raises $8.5 Million in Venture Capital, Expands into High-Brightness LED Market

Strategic Insights -

BridgeLux, a leading supplier of energy-saving power-LED chips, has announced a significant venture capital investment of $8.5 million from DCM - Doll Capital Management, El Dorado Ventures, and Harris & Harris Group. This funding will support the company's continued growth and research and development at its new headquarters and R&D facility in California's Silicon Valley. Founded in 2003 as eLite Optoelectronics, BridgeLux has developed innovative power-LED chips that have enabled the global acceleration and acceptance of energy-saving solid state lighting (SSL).

Key Takeaways:

  • BridgeLux has secured $8.5 million in venture capital financing from DCM - Doll Capital Management, El Dorado Ventures, and Harris & Harris Group.
  • The funding will be used to support continued capital investments and intensified research and development at the company's new headquarters and R&D facility in California's Silicon Valley.
  • BridgeLux has developed high-volume ITO/InGaN power-LED chips and is delivering millions of chips every month to customers worldwide.
  • The company's innovative power-LED chips have enabled the global acceleration and acceptance of energy-saving solid state lighting (SSL).

Dr. Robert Walker, BridgeLux CEO, explains the company's mission: "Our mission is to enable the global acceleration and acceptance of energy-saving solid state lighting (SSL) by providing our customers with advanced product performance while simultaneously achieving aggressive cost reduction." BridgeLux investors and board members, Pete Moran and Scott Irwin, have emerged as key backers of the promise of SSL technologies such as InGaN blue spectrum LEDs. "Far more energy-efficient than incandescent and fluorescent lights, LED chips are poised to become a major source of lighting in commercial and residential environments," said DCM's Mr. Moran.

Statistics:

  • BridgeLux has raised a total of $8.5 million in venture capital financing.
  • The company has developed technology to fulfill an emerging market demand for large area (-1mm square) power-LED chips that exhibit high light output (-40 lumens) while consuming only 1 watt of power.
  • BridgeLux chips are commonly found in high-brightness applications such as mobile phone camera flashes, flat panel televisions, and architectural lighting.
  • The company has delivered millions of power-LED chips every month to customers worldwide.

Sources:

  • Business Wire, April 3, 2006
  • BridgeLux, Inc. press release
  • Interview with Dr. Robert Walker, BridgeLux CEO
  • Interview with Pete Moran, DCM - Doll Capital Management
  • Interview with Scott Irwin, El Dorado Ventures