Isotera lit up with £1.6m Series B
Cambridge-based lighting technology company Isotera has closed a £1.6m second funding round to advance its UK business from product launch to volume sales.
Isotera’s intelligent LED lighting system is revolutionising the way in which ultra-efficient lighting systems are installed – lowering capital expenditure as well as operating expenditure so accelerating the adoption of LED lighting and automated lighting controls.
Isotera says its system’s architecture is ideally suited for low cost communication purposes throughout buildings, allowing the expansion of its functionality beyond lighting.
The Cambridge Science Park company says its system has a major impact on the way in which energy-efficient lighting systems are installed by making it faster, simpler, cheaper and safer for electrical contractors to install and for facility managers to maintain.
The system is based on a novel power distribution architecture and features contactless power transfer. It provides a durable lighting infrastructure in buildings and outdoors while reducing capital costs by 30-50 per cent and reducing electronic waste by as much as 60 per cent. Its inherent flexibility and safety allow system reconfiguration while the system is live.
Isotera is working in partnership with key players in the global lighting supply chain to offer end-to-end solutions to contractors and system integrators. The company has signed several OEM partnerships and started sales.
The round was led by the current investor syndicate including Qi3 Accelerator, the Low Carbon Innovation Fund (LCIF), Synergy Energy, Martlet, and members of London Business Angels, Cambridge Angels, Cambridge Capital Group and Surrey Investment Club together with several new investors. Taylor Vinters were advisers to the transaction.
Chairman Nathan Hill said: “Isotera has progressed hugely since last year’s seed round. We now have an excellent team, our products are developed and ready to ship and initial sales have commenced.
“This second funding round will enable us to grow our sales activity substantially and support a further cycle of product range developments. I’m delighted that our existing investors showed their support in this round, and welcome several new investors to the syndicate.”
CEO Marc Ottolini added: “The transition to LED lighting now looks inevitable. The next frontier is to integrate LEDs, power conversion & distribution and lighting controls into reliable and cost-effective solutions.
“With its unique and cost-leading system Isotera is at the forefront of this. The new funding will enable us to make the system available to a far larger audience.”
• PHOTOGRAPH SHOWS: iSotera CEO, Marc Ottolini