Lighting product manufacturer Osram has agreed to acquire Digital Lumens, a US-based Led lighting system developer backed by communications technology provider Nokia, Reuters reported today, citing a source familiar with the matter.
Osram is set to pay a mid-sized eight-figure amount for the company, which has raised approximately $60m in funding according to media reports and regulatory filings, the source said.
Digital Lumens produces smart LED lighting systems for use in offices and industrial facilities. It has also created an industrial internet-of-things platform called SmartWorx and a lighting control and business intelligence platform dubbed LightRules.
Nokia’s corporate venturing arm, Nokia Growth Partners, led the company’s last round, a $23m series C in 2014 that included Aster Capital, the strategic investment fund backed by corporates Schneider Electric, Alstom and Solvay.
Goldman Sachs also took part in the series C round along with Black Coral Capital, Flybridge Capital Partners and Stata Ventures, the three investors that had provided $10m of series B funding for Digital Lumens in 2013.
– Image courtesy of Digital Lumens, Inc.