Xenio announces funding and official spin-off from Bridgelux
Oct 06 2016
Bridgelux, has approved a plan to spin off its Smart-Lighting LED platform business Xenio Corporation in conjunction with the sale of Bridgelux to an investment group led by the China Electronics Company (CEC) in July of 2015.
Xenio’s mission will be to "develop and deliver networked and software-driven solutions that bring intelligence to lighting fixtures, providing a powerful platform to deliver IoT services in the rapidly growing smart building space. Critical to this effort will be Xenio’s seamless integration of LED light source technology with advanced power, radio, sensor, application and cloud software into a low-cost, easy-to-install network."
+ The new company raised venture funding from Bridgelux, Toshiba, DCM Ventures, VantagePoint Capital Partners.
+ Amount of new funding was not disclosed.
+ Xenio’s CEO is Reza Raji, previously the founding CEO of iControl Networks.