Inventronics announced that it has secured a second round of financing led by Sinowisdom Capital. Sinowisdom was joined in the financing by Vangoo Investment Partners. Terms of the financing were not disclosed.
Inventronics states that it will use the investment to fund the expansion of its operations as demand for the company’s products continues to grow. The company will further accelerate its product development activities in what it describes as this rapidly developing industry while it ramps up its sales activities in targeted markets. Inventronics states that its products provide high efficiency power solutions for solid-state lighting applications such as LED street and area lights, signage, general purpose and architectural lighting.
"We are very pleased to be expanding our partnership with Sinowisdom as we seek to meet our capital needs," said Dr. Gary Hua, CEO and founder of Inventronics. "While we were able to achieve profitability in the second half of 2009, this investment will provide the cash necessary to continue our very rapid growth."
