This third round of funding will be used by Lamina to expand its operations, and brings the company's total funding to date to $37.5 million. Based in Westampton, New Jersey, Lamina was spun off from Sarnoff Corporation in April 2001.
The company specializes in the development of ultra-high lumen light sources based around its proprietary thermal management technology using multilayer ceramic-on-metal (see Lamina's packaging technology provides alternative approach to high-power chips).
The funding round was lead by a $4 million investment from Granite Global, an expansion stage venture capital firm, with Morgenthaler Ventures also participating. SpaceVest, a venture capital firm that invests in companies that leverage advanced technologies, invested an additional $2 million in Lamina.
"We are excited to continue to support Lamina, and this investment is a direct reflection of the company's tremendous achievements in a fast growing marketplace," said Rich Harris, managing director at SpaceVest and a Lamina board member. "Lamina has a strong business model proven by the rapid adoption of its unique LED solutions. SpaceVest is pleased to see the company into its next phase of growth and maturity."
In an article on TheDeal.com, Harris was quoted as saying that he was following Lamina's focus on three primary markets; task lighting, architectural lighting, and displays.
Interestingly, Granite Global principal Yi Pin Ng said that his firm was attracted to the deal primarily by the opportunities in the displays market, which he described as being larger and more immediate than the opportunities in the lighting market.