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How Many Green Jobs will Lighting Science Create with $144 million?
Lighting Science Group Corp (LSGC) raised another round of financing of $144 million, after raising $33 million a year ago. The company said the new round was a "final" round of financing. Are they going public soon...?
Will they create new green jobs? They'll have to, to enhance their manufacturing processes, and increase their R&D efforts. They have only 5 open positions advertised on their website as of today. Let's hope $144 million translate into dozens of new green jobs.
The competition is fierce in the LED and solid-state lighting business; giants General Electric, Sylvania and Phillips are aggressively pursuing that market, but it's growing so fast that LSGC believes that it's big enough to allow newer, smaller players to be successful. The market is estimated to grow to $1 billion in 2014.
However, the field is crowded with plenty of other well-funded startups also competing in this area: ARC Energy, Illumitex (funded by NEA), Laser Light Engines, Luminus Devices (funded by CMEA Capital, Battery Ventures, and Draper Fisher Jurvetson), Luxim (funded by Sequoia Capital and Rockport Capital), Redwood Systems (funded by Battery Vantures), Renaissance Lighting (funded by Crowley Technologies,the Altira Group, NGEN Partners, RockPort Capital Partners, and Sumitomo Corporation), SuperBulbs, Topanga Technology, and WES LED Technology.
Let's hope that LSGC's $144 million translate into dozens of new green jobs.
See our definition of Green Building Jobs.