LedEngin, Inc., a California-based solid-state lighting company specializing in high performance LED lighting components, modules and replacement lamps, today announced the successful completion of its Series D financing. NGP Energy Technology Partners NGP ETP a leading energy technology fund with $496 million of capital under management, led the round and was joined by existing investors WK Technology Fund, Partech International, Horizon Ventures, Eyon Group and independent investor and Chairman, Dr.
Keh-Shew Lu. The Series D funding allows LedEngin to expand operations in response to increasing market demand for its products. The financing will be used to increase the LedEngin product portfolio, increase manufacturing capacity and to increase its worldwide sales and marketing network. Leveraging its unique and innovative packaging and optical technology, LedEngin is poised to take advantage of robust growth in the LED market.
The addition of NGP Energy Technology Partners to our existing funding partners will bring one of the most experienced and well respected energy technology focused funds with deep connections and experience in energy markets. We are excited to have NGP Energy Technology Partners on board.
The latest round of funding provides LedEngin with the financial resources it needs to accelerate growth and meet customer demands, said David Tahmassebi, President and CEO of LedEngin. The addition of NGP Energy Technology Partners to our existing funding partners will bring one of the most experienced and well respected energy technology focused funds with deep connections and experience in energy markets. We are excited to have NGP Energy Technology Partners on board.
LedEngin is led by an impressive management team that has a proven track record and a compelling and focused strategic plan. NGP ETP's investment will allow LedEngin to accelerate the tremendous market penetration it is already experiencing LedEngin's reputation in the marketplace, innovative products, and strong industry acceptance make it an attractive investment for NGP Energy Technology Partners, said Brad Barton, Principal at NGP ETP, who will join the board of LedEngin as part of the transaction.
