LiteSheet Solutions, a Bedford, Va.-based producer of a patented, highly energy-efficient LED lighting and manufacturing processes, raised a seed funding round of undisclosed amount.
Backers included Center for Innovative Technology’s CIT GAP Fund, via Commonwealth Energy Fund (CEF), and Charlottesville Angel Network.
The company intends to use the funds to launch new products, develop additional patents, and increase marketing activities.
Led by Roger Whyte, President and CEO, LiteSheet has developed a LED light engine that aims to reduce energy consumption by eliminating the AC to DC power supply that is used by conventional LED lighting.
The company’s target market and current customer base consists of public buildings, universities, hospitals, manufacturing plants, distribution centers, parking garages, large retailers, public utilities and transportation infrastructure.
FinSMEs
13/04/2016