On May 8, 2012, Shangyu Lighting announced that it will receive a second round of financing of US$30 million. The participation in this round of financing includes the Jinshajiang Venture Capital Fund and the US Oak Investment Fund, as well as additional investment by early angel investors.
Oak Investment is a multi-disciplinary US veteran venture capital fund that led the round. Mr. Guan Zhongyuan, a partner in charge of Oak Asia's investment in Asia Pacific, also joined the board of directors of Shangyu Lighting.
Sun Jianning, founder and CEO of Shangyu Lighting, said that Shangyu Lighting is committed to promoting the lighting industry's transition to solid-state semiconductor lighting, and launched the world's first product that achieves extremely high levels of light efficiency and color rendering. And the cost is very low. The proceeds will be used to expand its production capacity, strengthen sales and marketing, and research and development of new products.
Shangyu Lighting has various LED lighting industry chain technologies, including power drive, mold, packaging and optical design, which make the existing LED lighting technology level achieve the perfect balance of performance and cost. The company claims that its patented PowerXploreTM enables LED power supplies to achieve up to 92% AC-DC conversion rates, compared to the nearest competitor's level of 85%.
Sun Jianning said that the reason why he chose Olympic champion Luo Xuejuan to endorse the lighting products, mainly because the company's products are in the leading position in the industry in terms of performance and cost, and it is called the Olympic gold medal winner in the LED field.
Shangyu Lighting will present its latest products to LIGHTFAIRÂ®, the world's largest annual architectural and commercial lighting trade fair, on May 9. The latest products on display include LED IR16 lamp cups that are fully compatible with AC, DC 12V and various transformers - completely solve the compatibility problem of replacing traditional halogen lamps; and the latest 8 watts of 800 lumens for Shangyu Lighting, CRI 90's warm color LED bulbs and more. From May 9th to 11th, Shangyu Lighting executives and professionals will give a live commentary to the audience at booth 225.
Mr. Wu Shenjun, founder and managing director of Jinshajiang Venture Capital and chairman of Shangyu Lighting, said that Sun Jianning, the founder of Shangyu Lighting, has made innovations in LED bulb design based on the breakthrough idea of â€‹â€‹system-level architecture. Jinshajiang Venture Capital began tracking and early investment in Shangyu Lighting in 2010, and as the exclusive investor of Shangyu Lighting's first round of 10 million US dollars financing, it will continue to provide opportunities we can see to support the company. development of.
Bandel Carano, a partner at Oak Investment, said that Shangyu Lighting is particularly prominent among the many LED companies they have seen over the years, not only with excellent architecture and technology, but also with good conditions for large-scale production.
Bandel Carano also expressed his pleasure to re-engage with Jinshajiang Venture Capital in China on new investment projects to strengthen strategic partnerships. Jinshajiang Venture Capital's understanding of the Chinese market, Oak's investment in clean energy, and the technology and leadership team of Shangyu Lighting will help the company to realize its enormous potential.
Mr. Guan Zhongyuan, a partner of Oak Investment Asia Pacific, expressed his full confidence in the management team of Shangyu Lighting, including CEO Sun Jianning and his research and development team, and believed that Shangyu Lighting will play a pivotal role in the global lighting market of 10 billion US dollars.
The global lighting market shows that while LED technology meets or exceeds the performance of traditional light bulbs, the conditions for continuously reducing costs have matured. The US Department of Energy estimates that in the next 20 years, the replacement of LED products in the United States alone will save $120 billion in energy costs. Energy saving through LED lighting, if one-half of China's bulbs are replaced by incandescent lamps into LED products, it will save 100 billion kilowatts of electricity per year (or equivalent to saving 50 billion yuan per year, equivalent to the annual capacity of the Three Gorges Dam).
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