BridgeLux, another clean-light company — but faces lawsuit

August 2, 2007 | Matt Marshall | Comments |

diode.jpgBridgeLux, maker of chips for “light emitting diodes” that are environmentally cleaner lighting sources than standard lightbulbs, has raised a $23 million third round of funding, according to VentureWire (subscription required).

It joins the rush of other LED companies, including D.lightdesign (coverage), Quanlight (coverage), Intematix (raised $25 million from DFJ and Crosslink), Group IV Semiconductor ($8.2M from Khosla Ventures and BDC Capital). Yet another company, publicly traded Cree, has sued BridgeLux for patent infringement.

The BridgeLux round was led by new investor Chrysalix Energy Venture Capital, and included DCM, El Dorado Ventures, Harris & Harris Group. New investor VantagePoint Venture Partners also participated. It adds to the $8 million already raised by the company. The company’s LED chips provide light in devices such as mobile phones, camera flashes and automobiles.

Meanwhile, Ottawa-based Group IV also raised another round from Garage Technology Ventures Canada, Applied Materials and existing backers.

Deutsche Bank Securities Inc. estimates that the market for LEDs used for illumination and display will grow to $4 billion in 2001 from less than $1 billion in revenue last year, VentureWire noted.

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Matt Marshall is editor and CEO of VentureBeat. Follow him on Twitter at @mmarshall, and follow VentureBeat on Twitter at @venturebeat.

  • It's worth the investment, I guess, but there is not going to be an overnight miracle worked by the SSL companies. SSL, LEDs have been around a long time and just because there is a green bandwagon, positive press, and marketers pushing it down our throat, doesn't make it worth the hype. Once the world figures out the global warming scare is a complete farce, where do you think many of these companies will head? South.