Wednesday, 26 January 2000
Color Kinetics Incorporated, manufacturers of full spectrum digital lighting, has announced the completion of its third round of equity financing, with Deutsche Bank as the lead investor. This round featured significant participation from the company's existing investors as well as from several new investors, and has raised over $13 million for the company. This latest round of capital will enable Color Kinetics to extend the digital technologies in its growing patent portfolio into new markets. It will broaden its product range based on its LED-based Chromacore technology, which has recently been awarded a US Patent - the first issued in its field. The patent covers standalone and network control of multiple LEDs for illumination and display. According to industry analysts, the worldwide LED market is estimated at $1.8 billion, with strong forecasts for rapid growth.