EMERYVILLE, Calif. (PRWEB) February 19, 2018
LumiGrow, a smart horticultural lighting company, announced the successful completion of a $5.1 million bridge financing. The oversubscribed round included participation from existing lead investor, Ecosystem Integrity Fund, as well as new investors, ValueAct Spring Master Fund, L.P. and Greenhouse Capital.
With the successful closing, LumiGrow will continue to focus on providing industry leading LED lighting hardware and software solutions to commercial horticulture and research institutions, utilizing data gathered through its smartPAR software application and recently introduced smartPAR Light Sensor Module. The timing and size of the financing allows LumiGrow to accelerate the development of its next generation products.
Kelly Barlow, a Partner at ValueAct Capital, has been appointed to LumiGrow’s Board of Directors, which includes LumiGrow’s CEO, Shami Patel, Partners of Ecosystem Integrity Fund, Devin Whatley and James Everett, and agricultural industry leader, Minos Athanassiadis.
The registered principals of Keene Advisors and representatives of Squire Patton Boggs advised LumiGrow in connection with the bridge financing.
About LumiGrow, Inc.
LumiGrow, Inc., the leader in smart horticultural LED lighting solutions, empowers growers with the ability to improve plant quality, boost crop yields, and achieve cost-saving operational efficiencies. LumiGrow offers a range of proven grow light and software solutions for use in greenhouses, controlled environment agriculture and research chambers. LumiGrow is headquartered in Emeryville, California,
About Ecosystem Integrity Fund
The Ecosystem Integrity Fund is a top-ranked venture capital firm that invests in early-stage companies contributing to environmental sustainability. The fund has had successful exits with investments in Zep Solar, Kevita, and eMotorWerks.
About ValueAct Capital
ValueAct Capital is a San Francisco-based investment firm with approximately $15 billion in assets under management. ValueAct Spring Master Fund’s investment objective is to seek to achieve superior returns by making long-term investments in companies that responsibly and creatively address certain environmental and social problems by using sustainable models.
If you would like more information, please call LumiGrow at (800) 514-0487, or visit http://www.lumigrow.com.