On Wednesday, Yeelight, an intelligent lighting company, announced the completion of the round E financing worth 300 million yuan (about $47.1 million). The investors of this round include Light Control Industry Fund, Huatai Securities, New Kinetic Energy Capital, Qingdao Fund of Funds, Huaying Cci Capital and Yichen Investment.
Funds raised in this round of financing will be used for channel expansion in both domestic and overseas markets, intelligent product R&D, supply chain layout and team recruitment and expansion, so as to further consolidate the company’s position as a leader in the intelligent lighting industry.
According to Tianyancha, a business inquiry platform, established in 2012, Yeelight now possesses more than 500 workers and is headquartered in Qingdao. The company has a number of branches and subsidiaries in Shenzhen, Shanghai, Hong Kong and other locations to achieve bettercoverage all over the world.
Yeelight is mainly engaged in the design, R&D, system integration and sales of intelligent lighting related products. The company has built a complete line of intelligent lighting products, including home lighting, commercial lighting, intelligent control systems and overall delivery solutions.
Yeelight has mastered many key and unique technologies with regard to intelligent lighting. Its self-developed SLISAON lighting equipment control technology solves the offlining problem of intelligent lighting fixtures. The control system operates the intelligent lighting fixtures in customers’ homes for 24 hours and guarantees their continuous uptime. Core technologies such as dimming technology, light mixing and ultra-low power standby mode are at the cutting edgeof the lighting industry worldwide.
At present, the company has published 590 patents and patent applications, including 243 invention patents and invention patent applications, among which 41 invention patents have been authorized.
Jiang Zhaoning, founder and CEO of Yeelight, said, “As an innovative brand in China, Yeelight has shipped more than 50 million pieces of intelligent lighting products worldwide, which enables customers in more than 200 countries and regions around the world to experience feel the power of China’s intelligent lighting products. We have also opened more than 200 professional and standardized service stores in some larger and medium-sized cities across the country, and trained more than 1,000 professional lighting designers and service engineers in order to serve customers locally.”