Bright View Technologies Inc receives a $4 million investment
PRESS RELEASE - Bright View Technologies Inc receives a $4 million investment
Microstructure-based optical film manufacturer Bright View Technologies Inc announced today it has raised $4 million in its latest round of funding.
Bright View leverages its patented technology platform to develop high value products for the energy efficient light-emitting diode (LED) lighting market & liquid crystal display (LCD) display industry. These products offer a demonstrable value proposition based on performance, manufacturability and cost.
Durham-based venture capital firm Intersouth Partners led the round. The financing will be used to advance products to market and to expand manufacturing and product development. Kip Frey and Chris Hegele of Intersouth Partners will join the company’s Board of Directors.
Bright View’s ACEL™ product is an optical film used as a high value diffuser in LED luminaries. It enables +90% system efficiency fixtures, reducing the total cost of ownership that drives market adoption. ACEL delivers the “look” of LED luminaries by eliminating glare and mixing the light to create an aesthetically pleasing glow.
Bright View’s RAC™ product line delivers a high brightness, high yield, single film solution that reduces manufacturing costs by replacing existing three and four film solutions in portable LCD displays.
“Bright View is experiencing a strong response to its ACEL and RAC products, as evidenced by the volume shipments of ACEL and customer interest in the value proposition for RAC,” said Kip Frey of Intersouth Partners. “This round of financing will help the company ramp its product development and bring its breakthrough technology to market.”
“We are delighted to have Intersouth as a partner as we scale up the production of our ACEL and RAC products to meet customer demand,” said Ed Teague, CEO of Bright View Technologies.
About Bright View Technologies, Inc.
Bright View Technologies, Inc. is a leading developer of microstructure-based, optical films for the global lighting and display industries. Bright View is transforming these markets by leveraging patented and proprietary technologies that enable the production of high performance optical film products for LED lighting and LCD industries. Visit www.brightviewtechnologies.com for more information.
About Intersouth Partners
Located in Durham, North Carolina, Intersouth Partners is one of the largest, most active and most experienced early stage venture funds in the country, having invested in more than 95 private companies over the last two decades. Founded in 1985, Intersouth Partners manages $780 million in seven venture capital limited partnerships. Intersouth seeks a broad range of seed and early-stage investment opportunities throughout the Southeast, focusing on the technology and life science sectors. Visit www.intersouth.com for more information.
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