Inventronics secures first-round financing led by Sinowisdom Capital
Hangzhou, China - December 10, 2008 – Inventronics, a technology leader in the development of high efficiency power solutions for solid-state lighting applications, announced today that it has closed a first round of financing led by Sinowisdom Capital. Terms of the financing were not disclosed.
Inventronics will use the funds to accelerate its product development activities and introduce a number of new products into manufacturing. The company will also ramp up its sales activities in targeted markets. Inventronics’ products provide high efficiency power solutions for solid-state lighting applications such as LED street lights, signage, general purpose and architectural lighting.
“We are extremely pleased to be partnering with Sinowisdom to meet our capital needs,” said Gary Hua, President and founder of Inventronics. “We are finding a great deal of interest in our new products and this funding will enable us to speed these products to market and to broaden both our product portfolio and our customer base.”
“Inventronics has some exciting new technologies for the rapidly emerging solid-state lighting market,” said Mr. Peter Zong, CEO of Sinowisdom. “We are delighted to be working with this outstanding team and helping them deliver world-class solutions to this dynamic market.” Sinowisdom was joined in the financing by United Profit Technology Co., Ltd., Taiwan-based electronics company with world-class capabilities in high volume manufacturing.
Inventronics, headquartered in Hangzhou, China, is a technology leader in the design of high power, high-efficiency LED power supplies. The company was founded in 2007 by Dr. Gary Hua, a renowned expert in the global power electronics arena. The company focuses on the development of small footprint, high reliability, ultra-high efficiency power supplies for a variety of solid state lighting applications. Inventronics also develops custom power products for computing, communications, medical and industrial applications. Visit Inventronics on the web at www.inventronics-co.com for detailed corporate information.
Sinowisdom Capital is a leading Chinese venture capital firm with over $300 million of assets currently under management. It is one of the fastest growing venture capital firms in China and its investing partners include some of China’s largest private industry groups. Sinowisdom has invested in a number of emerging fields including renewable energy, IT, telecom, industrial equipment and consumer products. With substantial access to industry resources, capital, professional management and financial expertise, Sinowisdom Capital is helping to grow China-based companies into global leaders.
3rd Fl., Bldg B., Eastcom City
66 Dongxin Road, Binjiang District
Hangzhou, Zhejiang 310053
Mr. Gary Hua
Inventronics 3rd Fl., Bldg B., Eastcom City 66 Dongxin Road, Binjiang District Hangzhou, Zhejiang 310053 P.R. China Mr. Gary Hua Tel: 86-571-86632260 Fax: 86-571-86601139