Nualight has secured €3m in funding from cleantech investors just a few months after it raised a further €3 million. The Cork-based company has now raised a total of €18 million since it was founded in 2004.
Nualight appointed retail technology and business services expert Shaun Gray as its CEO in 2013
The largest investor in the latest round of fundraising was London private equity firm Climate Capital Change. It has long been an investor in the Irish firm and contributed €1.4 million. A further €1.2 million was invested by ESB Novusmodus, a €200 million cleantech and renewable energy investment fund.
Nualight develops commercial lighting products with a particular focus on the retail sector. Most famously, it recently won the contract to supply its Blaze LED fixtures to over a thousand Spar retail stores earlier this year.
The latest publicly-available accounts for Nualight show that it generated €27.5m in revenue in 2012, a 54 per cent rise on the figure for 2011. In 2012 it made a €5.2m loss. The company had predicted that it would become profitable in the second half of 2013.
