Early stage Cambridge based LED lighting specialist Isotera has closed a £1.1m funding round which was corner stoned by a £360k investment by LBA, including a £75k investment by the LBA EIS Roundtable Syndicate Fund 2012.


Early stage Cambridge based LED lighting specialist Isotera has closed a £1.1m funding round which was corner stoned by a £360k investment by LBA, including a £75k investment by the LBA EIS Roundtable Syndicate Fund 2012. The company, which presented to the LBA network in September 2011, has developed an intelligent LED lighting system which squeezes the best possible efficiencies from LED lights, and makes installation far more affordable. This lowers the cost of ownership and encourages accelerated adoption of green LED lighting and automated lighting control. The company is now working in partnership with key players in the global lighting supply chain to offer end to end solutions to contractors and system integrators. The company will use the funds to expand its team, launch its first suite of products and generate revenues.

Marc Ottolini, Isotera CEO comments, “ with the completion of this funding round the company can now implement its mission, which is to become the default network infrastructure of intelligent lighting, the invisible part of the network that makes it all work. I am delighted to have a group of investors behind us who had the vision to back us at this early stage.”

Anthony Clarke, CEO of Angel Capital Group and Managing Director of London Business Angels, comments, “ I am delighted that LBA effected introductions to 7 of our angel investors plus a £75k investment by the LBA EIS roundtable syndicate fund 2012. Marc and his team have shown real perseverance to close this round and are now well placed to commercialise their innovative product albeit still at seed stage. This is a very good example of the power of syndication between specialist early stage funds and individual angel investors headed by a strong lead angel in order to meet a high growth early stage business’s funding needs

About the LBA EIS Approved RoundTable Syndicate Fund

The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech). Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k, and has now invested in 5 deals over the past 12 months. Fundraising has now commenced for EIS Fund 2012.

Company Contact Information
British Business Angels Association
Jenny Tooth
100 Pall Mall
London
SW1Y 5NQ
0207 321 5675

Press Release Distribution and Press Release Service by I-Newswire

Original Source: £360k Investment By Anthony Clarke London Business Angels - LBA Cornerstones Isotera’s £1.1m Seed Funding Round