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Yaletown Ventures and peHUB Report: Cooledge Lighting Closes $18.4 Million Series B Financing - Hints at Possible Future IPO
Monday, December 15, 2014Company Profile | Follow Company
Vancouver, BC, December 15, 2014--(T-Net)--Yaletown Ventures has published a feature article writen by peHUB Canada on its website reporting that Vancouver-based LED technology company Cooledge Lighting has raised and closed US $18.4 million in a new Series B financing round.
The round was reportedly led by a new investor, together with ARCH Venture Partners, Yaletown Ventures, BDC Capital, Export Development Canada and GE Ventures.
Cooledge Lighting is also confirming the announcement in a tweet on its Twitter account.
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Please see the full story of Cooledge's new Series B financing (with substantial additional details) on the PE Canada website here.
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Cooledge has also hinted at a possible future IPO as being in its plans.
In a recent job ad for its "Chief Financial Officer" position at Cooledge (posted earlier this year by executive recruitment firm Odgers Berndston on August 27th), the company listed "Create a responsive financial infrastructure that will grow with the company. Support future acquisitions and subsequent integration. Facilitate a future potential IPO" as being among the position's responsibilities, so it appears a future IPO may be among the possibilities being considered at the company.
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Editor's Note: This major Series B financing appears to be a substantial expansion of the original US $4.725 US million debt and equity financing T-Net reported Cooledge had closed earlier this year on October 20th.
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About Cooledge Lighting
Cooledge Lighting Inc. is currently backed by both venture capital and grants from the Canadian Government through the SDTC program. Focused on delivering high quality solid-state lighting solutions to the general illumination market, the company's premier product, light sheet, delivers characteristics of OLED with the stability and market readiness of LED.
Professor John Rogers of The University of Illinois, along with Paul Thurk and Clint Bybee of ARCH Venture Partners, originated the concept behind Cooledge Lighting, Inc. In early 2009 the unique technology was brought to Vancouver, BC and presented to former members of TIR Systems LED and luminaire research staff, where the decision to form a company around the core LED competency was made.
Since its inception, Cooledge has sought to recruit visionary and proven leadership at all key positions. The management team has over 90 years of combined experience in LED technology, lighting, design, manufacturing and sales. Additionally, the board of directors has extensive background and experience bringing disruptive technology and innovative startups from incubation to launch to impactful industry leading companies.
News Credit: Yaletown Ventures and peHUB Canada
https://www.pehub.com
Photo Credit: Cooledge Lighting
http://www.cooledgelighting.com
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Richmond, BC (CleanTech & Energy)
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