Energy Efficient Lighting Startup, Redwood Systems, Aglow With $15 Million Funding

Redwood Systems, a Fremont, Calif. company that makes and installs network-based LED lighting control systems for commercial facilities attained a $15 million series b round of funding, the company announced today. Index Ventures led the investment, and was joined by the company's earlier backers Battery Ventures and U.S. Venture Partners. Neil Rimer, co-founder and partner of Index Ventures, will join Redwood?s board of directors.

Chief executive and co-founder of Redwood Systems, Dave Leonard, said he would invest the new-found capital in the near term on "Scaling to build and produce the [lighting systems], sell them, create demand and support customers mostly, and on research and development."

With 42 full-time employees currently, Redwood Systems works with technology partners around Silicon Valley to produce its systems, and electrical contractors to install them. According to its website, Redwood Systems provide 50-80% reduction in electricity consumption versus flourescent lighting in an equivalent space.Netgear Ncr National Semiconductor National Instruments