Toshiba, the Japan-based semiconductor company, has backed Bridgelux, a US-based developer of light emitting diodes [LEDS] as the two companies said they had jointly developed an LED chip on May 10.
Makoto Hideshima, a corporate vice president of Toshiba, said: "We are pleased to achieve the best-reported 8" GaN-on-Silicon LED performance through our joint development activities with Bridgelux. We will continue to pursue more advanced development targeting commercialisation of the technology."
The company has previously raised about $300m in its funding history, based on Global Corporate Venturing analysis. In March Bridgelux raised $40.9m of a planned $45.9m round in March, according to a Securities and Exchange Commission filing.
In November 2011 Bridgelux raised $14.3m of a planned $24.2m round, according to another filing.
Bridgelux raised $60.5m earlier that year according to another SEC filing, which said Bridgelux was looking to raise $78.6m.
Taiwan Semiconductor is a minority investor with a 4% stake, a Dow Jones VentureWire story in May last year reported. The latest round was expected to include an investment from an undisclosed investor, the May VentureWire story said.
Last summer, Bridgelux raised $50m and William Watkins, chief executive of Bridgelux, told VentureWire in May the pre-money valuation of the last round was $250m and that the new round had a higher valuation.
Watkins added that Bridgelux had raised $120m in total before the $60.5m round from venture capital firms Chrysalix Energy Venture Capital, DCM, El Dorado Ventures, Harris & Harris Group, VantagePoint Venture Partners and VentureTech Alliance.