Gooee, the US firm behind an Internet of Things platform for the LED lighting sector, has this week secured $8m in funding from tech capital specialist Silicon Valley Bank (SVB) to fund the final preparations for the platform’s launch.
Gooee’s smart lighting platform, set to launch early next year, is designed to help LED lighting manufacturers “tap into the Internet of Things space” – giving them the ability to offer business customers cloud-based services to make their lighting systems more efficient.
Rosh Wijayarathna, director at SVB’s UK corporate banking team, said SVB is “delighted” to support Gooee in its mission to support energy conservation through smart technology.
“Gooee connects lighting manufacturers with the Internet of Things and has the potential to disrupt the industry and make smart cities greener and more efficient,” he said in a statement. “We look forward to continuing to partner with Gooee’s management and supporting the ongoing growth of the business.”
LED lighting is seen as a critical first step in improving the energy efficiency of buildings, and many lighting providers are focusing on the technology as a key driver of future growth. For example, in June, Philips Lighting, the world’s biggest manufacturer of LED lights, announced plans to sell two billion LED lightbulbs by 2020 – a move that is expected to save the amount of energy equivalent to the output of 60 coal-fired power stations.