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Investors Pack $16M Into Illumitex for LEDs as Medical Marijuana Gains

Submitted by Marijuana News on Wed, 08/12/2015 - 08:12

Lighting company Illumitex Inc. is illuminating not buildings and streets, but plants like marijuana.  The growth in its market has helped the company secure a new round of funding, as Dow Jones VentureWire reported.

The Austin, Texas-based company’s light emitting diode lamps can be customized to produce wavelengths and intensity specific to facilitating the growth of a particular plant. Illumitex’s lamps are mostly used to grow greenhouse tomatoes and leafy greens indoors, but medical marijuana is a newer and advancing market, said Chief Executive Chris Hammelef. The company is also exploring the use of its lights in human skin-care, such as for acne and in anti-aging.

We give customers “a recipe to dramatically improve the yield, vitamin content and THC content,” Mr. Hammelef said. THC, or tetrahydrocannabinol, is the primary ingredient in marijuana.

Illumitex secured $16 million in fresh funding for a Series C1 round this spring, Mr. Hammelef said....

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URL: 
http://blogs.wsj.com/venturecapital/2015/08/11/investors-pack-16m-into-illumitex-for-leds-as-medical-marijuana-gains/

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