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.


VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member