LumaStream, the leader in end-to-end low-voltage systems for LED lighting, today announced the close of $10M as its first Series B Preferred Equity tranche. The funding will significantly expand LumaStream’s capacity to fulfill orders from a growing number of hospitality and multi-site retail customers who are realizing the significant benefits of LumaStream’s unique approach to LED lighting.
LED is the fastest growing technology for general lighting in commercial buildings. LumaStream increases funding now to maintain its technological lead and continue to capture LED lighting market share.
Headquartered in St. Petersburg, Florida, LumaStream offers the only holistic approach to low-voltage power distribution for LED lighting.
‘LumaStream is in the right market, at the right time, with the right technology and distribution model,’ said Eric Higgs, CEO of LumaStream. ‘We’re built to scale and are thrilled by the response from the market, particularly the restaurant chains that are rapidly deploying our systems across the country.’
Significant advantages over conventional lighting and line voltage LED installations make LumaStream solutions particularly compelling to companies seeking high quality lighting that also saves money through reduced energy consumption, reduced electrical infrastructure, reduced installation labor, and no maintenance cost. Compared to other LED lighting systems, LumaStream is the only solution to achieve such high efficiency coupled with seamless lighting control. Well-tuned LED lighting can save up to 28% electrical consumption in commercial buildings where nearly a third of power usage goes to lighting.
LumaStream recently moved to a new location in downtown St. Petersburg, Florida, more than tripling its capacity, adding new resources to support its rapid-prototyping model, and hiring additional staff. Additionally, LumaStream will soon move the production of its core power driver technology from Waterloo, Canada to St. Petersburg partnering with local contract manufacturers.
LED is the future of lighting, forecasted to surpass all other lighting technologies by 2016.
