CHF 2 million for the development of energy-saving lighting
LEDCity has received 2 million Swiss francs in an additional financing round. The company intends to use the newly acquired capital totalling CHF 5 million to drive forward the development of its energy-saving lighting modules.
LEDCity, a Zurich-based start-up in the cleantech sector, has secured 2 million Swiss francs as part of a further financing round. According to a press release, the company was able to secure a total of 5 million Swiss francs 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,” said Patrik Deuss, CEO and founder of LEDCity, in the press release.
LEDCity has developed a lighting solution that aims to reduce electricity consumption by up to 80 per cent. The company wants to use it 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 each area of a building can be illuminated exactly as required. With the additional funding, 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.