LEDCity secures further funding for growth

The Zurich-based company has developed a plug-and-play lighting system that significantly reduces energy consumption up to 80 percent compared to modern LED lighting systems with traditional motion detector control. Their solution is easy to install and integrates smart algorithms and multiple sensors into each light source, allowing for autonomous and dynamic light control. This ensures that every part of the building is illuminated precisely on demand. As a result, LEDCity plays a crucial role in assisting real estate portfolios across Europe in meeting their ESG guidelines. For this approach, the scaleup was also honored with the Green Business Award last year.

CHF 5 million additional liquidity in 12 months

Despite the current difficult market situation for startups, LEDCity secured a total of CHF 5 million in funding over the 12 months. In the middle of 2023, the company raised growth capital in the amount of CHF 2.6 million from Credit Suisse and the Technology Fund in the form of a credit line. Recognizing the demand for energy-efficient and smart solutions in the national and international markets, the company has now decided to raise a further CHF 2 million in equity. ‘With the new financing of our investors, we are well-positioned to capitalize and respond to the growing demand as well as to advance our mission of reducing dependency from fossil fuels through redefining lighting’, said Patrik Deuss, CEO and Founder of LEDCity.

Scaling up for greater impact

In a strategic move to enhance market reach, LEDCity has embarked on collaborations with industry partners to easily integrate its technology into various luminaire designs. This initiative aims to cater to diverse customer needs while establishing LEDCity’s solution. ‘Together with our partners, we want to make the industry work more effectively and achieve our vision.’ explains Deuss.

The company has already achieved significant milestones, including saving the electricity consumption equivalent of 22’000 households and expanding its presence to Spain and Germany. It has also invested resources into implementing new processes and structures and hired many experienced people. With a team of 45 people, they converted more than 150’000 inefficient lights into energy-saving lights.

(Press release / SK)