Venture Capital News: FLEx Lighting Raises $9M in Series B
CHICAGO, IL, Leader in front lighting for low power displays, announced today the close of a $9 million Series B financing round led by Energy Foundry.
FLEx Lighting, the world leader in front lighting for low power displays, announced today the close of a $9 million Series B financing round led by venture capital fund Energy Foundry with participation from SABIC Ventures, Bascom Ventures, and others. This round of financing will help FLEx expand their product lineup with new tablet-sized displays, as well as widen distribution channels and global representation.
FLEx frontlit technology is changing the way we look at our devices. Founded in 2004, FLEx developed a front light system for device displays that's power-efficient and sunlight-readable. These front lighting products provide critical solutions for the rapidly expanding category of Reflective LCDs for mobile devices.
This round of financing enables FLEx to grow their product portfolio into 7"+ displays for tablets, consumer applications, and other larger personal information displays. Having a supplier, SABIC, as an investor in this round expands FLEx's supply chain and materials expertise for display products as well as for future applications in automotive and general lighting.
"While others are focusing on improvements to the battery, FLEx's technology delivers a 5x reduction on the consumption side of the equation by reducing energy drain by the display components," said Sara Chamberlain, Managing Director, Energy Foundry. "We are thrilled to support this exceptional team in their next phase of growth."
"We remain focused on delivering the best displays in the world to our customers, ones which provide high resolution, full color, sunlight readability and ultra-low power consumption," said Mike Casper, FLEx Lighting CEO. "This round of capital will allow us to expand our product offerings; enter the education, consumer and commercial displays market; and increase our global manufacturing and sales networks. We look forward to continuing to partner with our customers and investors to deliver more efficient displays and illumination."
About FLEx Lighting
FLEx Lighting is changing the way we see and experience light. FLEx's technologies have created the world's thinnest lighting system, which is now powering next generation electronic displays, LED luminaires and other lighting applications. For more information, visit www.flexlighting.com.
About Energy Foundry
Energy Foundry invests venture capital in today's most promising energy innovators and works with the world's leading energy companies to build and scale new ventures. Their approach merges venture capital with the perks of partnership and includes an arsenal of essential tools and relationships to help bring great ideas to market. For additional information, visit www.energyfoundry.com.
About SABIC Ventures
SABIC Ventures is venture arm of SABIC, one of the world's largest petrochemical companies, headquartered in the Kingdom of Saudi Arabia. SABIC Ventures is focused on providing venture capital financing to innovative companies in the fund's sectors of interest on a global scale.
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