Luxim Corp., a company developing solid-state plasma lighting, announced last week that it has raised $12 million from existing investors in a Series C funding round.
The company said funds would support expansion to meet growing demand for lighting technology, which employs a tiny quartz bulb containing gas plasma and metal hallides that react to create intense white light.
Luxim claims that its technology provides a 30% energy efficiency advantage over LEDs in high output applications, as well as better quality light and smaller size.
The company wants to market the technology, which it calls LIFI®, for street lights and stadiums.
Luxim said it previously raised about $60 million from Sequoia Capital, Crosslink Capital, DAG Ventures and Worldview Technology Partners.
