Vancouver's Light-Based Technologies has closed the second tranche of a financing round totaling $7.5 Million.
The Series B round of investment was lead by VantagePoint Venture Partners and Chrysalix Energy Venture Capital. As part of the investment, Light-Based Technologies has added to its management team, appointing Art Aylesworth as CEO, Matthew Watson as COO, and Barry Hagglund as CTO.
New CEO Aylesworth was most recently CEO of the solid state lighting company Carmanah Technologies where he built the team from 12 to 250 people and grew sales to over $60 million in five years.
Jeanette Jackson, Light-Based Technologies' founding CEO, will transition to Chief Marketing Officer for the company, focusing on strategic customer relationships and industry association participation. Light-Based Technologies is based on technical developments from Jeanette Jackson's father, Vern Jackson.
Light-Based Technologies closed an identically sized $7.5 Million financing round on September 30, 2010.