Sunnyvale-Based Bridgelux Secures $40 Million in Funding

Sunnyvale, Calif. -- Bridgelux, a Sunnyvale-based developer of LED lighting technologies, said on Tuesday that it has raised $40 million, including $30 million in private equity investments and $10 million in credit lines. New investor VentureTech Alliance led the round, which also included participation by previous investors DCM, El Dorado Ventures, VantagePoint, Chrysalix Energy Venture Capital and Harris & Harris Group. The company said that it will use the proceeds to aggressively pursue its strategy for product development and market expansion, as well as for research and development.  The company said that its LED-based lighting technologies are more energy efficient, more reliable and offer better light quality than current fluorescent and incandescent bulbs.
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