Bangalore based Innovlite raises angel funding
Printer Print Email Email
New Delhi: A Bangalore based firm in the field of new generation solid state lighting systems using LightEmitting Diodes (LEDs), Innovlite announced that they are strengthening their foundation by raising capital from serial entrepreneurs and angel investors K Ganesh, CEO TutorVista, Sreenivasan (Ramki) Ramakrishnan, ex-CEO Marketics, and V Shankar, Managing Director, CAMS. According to the company, the decision of raising angel capital is aimed at using the enormous knowledge and expertise of the investors in scaling businesses along with a source of funding. Raghav BR, Founder and Director, Innovlite said "We are a green business start-up that helps saveenergy through efficient lighting. Given the current environmental crisis coupled with our rapidlygrowing client base, the funding comes at a time when we want professionals who can stay with uslong term. Apart from growing our presence nationwide, we seek to receive insights and resourcesthat are of tremendous value for the success of an early stage company like ours". Founded in 2005, Innovlite offers a portfolio of LED lighting solutions which deliver high efficiency, low maintenance and durable lightingsolutions to every segment of society improving quality of lives everywhere, everyday. K Ganesh, CEO TutorVista said, "We are pleased to build significantly on our special relationship with Innovlite to strengthen their position in the fast-growing LED Lighting business. I do believe that therewill be a shift from conventional lighting systems (like incandescents and CFLs) to LED. Rapidlyincreasing efficeiencies of LEDs coupled with falling costs will definitely drive penetration - which was seeing already. Also government subsidies announced in the latest budget will provide a big boost to this market."

siliconindia