Austin-Based Illumitex Raised $9.3 Million and Recruited a New CEO

Austin-based Illumitex, which develops LED lighting technology, has raised $9.3 million and recruited a new CEO to lead its expansion push, the company said Tuesday. Founded in 2005, Illumitex develops and sells LEDs for the general lighting market, including residential and commercial uses. LEDs are semiconductor devices that emit light when an electrical current is applied. The technology is durable and far more energy-efficient than conventional incandescent and fluorescent bulbs. Since Illumitex began production in 2008, it has focused on selling packaged LEDs to specialized makers of lighting systems. The company said it will shift its focus to developing its own line of lighting fixtures. That effort will be led by CEO Chris Hammelef, who was formerly vice president and general manager of Hadco Group, one of the largest decorative outdoor lighting companies in North America and a division of Philips. He replaces Illumitex co-founder Matt Thomas, who is no longer with the company. Hammelef said that in nearly two decades in senior roles at major lighting companies, "I have never seen any emerging technology with as much potential as Illumitex's precision LED optics. Nobody else has this solution, and that's what attracted me to the company. The challenge is to build the brand in the general illumination space, and I am looking forward to doing that." Illumitex also will continue to target the horticultural industry, where its LEDs are used in a number of ways, including vertical farming, greenhouses and tissue culture laboratories. Illumitex, which has 35 employees, received the funding from existing investors, including New Enterprise Associates, Morgan Creek Capital, Apex Venture Partners and DFJ Mercury. With the new investment, the company has raised a total of $50.3 million. Source: statesman.com