Besides straightforward environmental lighting, there are a plethora of uses for light-emitting diodes. Element Labs makes its business in LED applications like advertising, concert lighting, decoration and art installations.
Some of the Element’s displays have appeared at concerts by celebrities like Led Zeppelin and Madonna, and on TV programs including American Idol and the MTV Awards. The company plans on using this funding round to expand sales and international marketing efforts.
The funding is the company’s second. Of the total amount, Expansion Capital Partners led with $10 million, while Sierra Ventures and Gold Hill, a lender, pitched in for the remaining $2.75 million.