Ledzworld receives $5M in private investment, appoints Ken Chakravarti as CEO
For Immediate Release
Amsterdam, The Netherlands -- Ledzworld, the innovator behind the top brands in commercial LED lighting, announced today that it has closed its latest round of internal funding, bringing the total amount raised from its existing private shareholders in the past couple of months to $5 million.
The proceeds from the new funding will be used to finance Ledzworld's rapid sales growth, expand its manufacturing capabilities and retain its leadership position in developing high-quality, ultra-compatible LED lighting lamps and modules for professional end users.
In conjunction with the latest funding round, the Board of Directors of Ledzworld appointed Ken Chakravarti as its new Chief Executive Officer, in addition to his continuing role as Chief Technology Officer.
“This new round of funding will enable us to meet the rapidly growing demand for our industry-leading products from an ever expanding customer base across the globe and build up the necessary scale to remain competitive in this fast evolving market,” said Ken Chakravarti, Chief Executive Officer of Ledzworld. “With this latest capital commitment, our shareholders have signaled their readiness to support the company in reaching the next level and have given Ledzworld the means to determine its own strategic path towards that point. This path could include forging partnerships with industry players to even more firmly secure our leading position in the premium segment of the LED lighting market.”
Since 2009, Ledzworld has revolutionized the lighting industry by developing, designing and manufacturing LED lighting that exceeds customer expectations. The company’s industry-leading products perform with no surprises, no disappointments, no compromises.
To learn more about Ledzworld’s high performance LED products, visit www.ledzworld.com.
Ledzworld, headquartered in the Netherlands, is a leading developer of high-quality LED lighting solutions for the professional segment. The company designs, manufactures and markets premium and customized LED lighting solutions for a selected range of brands that offer no compromise performance.
Ledzworld’s product portfolio includes LED lamps and LED modules that are based on a proven technology platform geared towards fast innovation. The technology behind its products ensures industry-leading compatibility with existing lighting infrastructure and easy, worry-free installation.
Ledzworld manages and controls its own supply chain and manufacturing from its operational headquarters in Penang, Malaysia and has additional sales offices in Europe and the United States to cover its global customer base.
Jan Kemeling, chief marketing officer, Ledzworld Technology +(60)-4-6300-800