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17 March 2008


Luminus closes $72m VC round

Luminus Devices Inc of Billerica, MA, USA, which manufactures PhlatLight (Photonic Lattice) LED products for display and illumination applications, has closed a $72m round of financing, led by Boston-based Braemar Energy Ventures and joined by San Francisco-based CMEA Ventures and Washington, DC-based Paladin Capital Group in addition to all previous investors.

The latest financing highlights a significant strategic juncture for Luminus, which had been traditionally focused on light sources for the TV and display industry but is now targeting a broader array of applications for its PhlatLight LED technology. The opportunities for solid-state lighting range from general commercial and consumer lighting to specialty applications such as medical, entertainment and homeland security. Luminus plans to use the capital to accelerate development of new products and expand into new lighting markets. The firm continues to strengthen its team in sales support, applications engineering and product development, and is recruiting staff in the greater Boston area.

CEO Udi Meirav calls the new funding a big vote of confidence in the future of solid-state lighting. “This investment enables a new phase in the growth of our company, and it will provide us with the resources to expand our product line, serve new markets and deliver the full value of our technology to our growing roster of customers.”

PhlatLight technology has enabled display applications that were previously out of reach for conventional LEDs. PhlatLight LEDs are replacing traditional lamps in projection TVs and digital projectors from top-tier brands, and are now replacing mercury-based fluorescent backlights in flat-screen LCD TVs (the PhlatLight BLU back-light unit was demonstrated at January’s International Consumer Electronics Show in Las Vegas and will be in production later this year). But now Luminus is also targeting the general lighting market.  

“We are very bullish on LEDs and solid-state lighting, and we are excited to invest in one of the most promising companies in this space, with ground-breaking technology and outstanding execution,” says Braemar’s managing director Dennis Costello.

See related items:

Toyota Tsusho to distribute Luminus LED products to display makers in Asia and Mexico

Avnet to distribute Luminus’ PhlatLight LED products in Americas

Luminus expands PhlatLight LED product line for microdisplays

Luminus relocates HQ and expands manufacturing operations

Luminus receives US patents for PhlatLight

Search: Luminus LEDs PhlatLight