LEDCity has secured 2 million francs in fresh capital as part of a financing round. A customer of the start-up and a group of business angels have invested, according to a media release. In addition to the financing by the investors, the company has also received a guarantee from the technology fund of the Federal Office for the Environment .
LEDCity has developed a lighting solution that aims to reduce electricity consumption by up to 80 percent. The development is intended to replace classic motion detectors in commercial buildings. It uses up to 50 times more sensors on the same area. Algorithms also ensure that the lighting intensity is controlled automatically.
With the fresh funds, LEDCity wants to enlarge its sales team in western Switzerland and at the same time expand to Germany. The start-up also wants to further develop its algorithms.
