Siemens Venture Capital (SVC), the corporate venturing unit of Germany-based industrial group Siemens, has led the $11m round for Encelium Technologies, a US-based maker of lighting control systems for commercial buildings.
Mike Majors, an investment partner at SVC, has joined the Encelium’s board.
Ralf Schnell, chief executive of SVC, said: "Lighting control is a market poised for growth due to increasing energy prices and regulation."
Since Encelium’s launch in 2001, its Energy Control System has been installed in more than 35 million square feet of commercial space across North America and Europe.
Encelium had raised about $5.2m from venture capital firms Blue Hill Partners, E2 Venture Fund, Skylon Capital and angel investors between 2001 and 2008, when they sold out to Townsend Ventures, according to news provider VentureWire.
Encelium was Townsend Ventures’ first deal since launching in 2008 to focus on energy-related investments for investment group Townsend Capital after the sale of its real estate assets in 2006.