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CIMCON Lighting Raises $15 MillionNEW YORK and BILLERICA, Mass., May 25, 2017 /PRNewswire/ -- CIMCON Lighting, the leading global provider of intelligent lighting and Smart City technologies, announced today a $15 million Series B funding round led by Energy Impact Partners (EIP), a collaborative strategic investment firm that counts leading utilities as its limited partners. Lindsay Luger, Managing Director at EIP, led the investment and joined the company's board of directors. EIP joins prior investors Launchpad Venture Group, Clean Energy Ventures, TiE Boston, MassCEC and others. CIMCON's hardware and cloud-based or on-premises software helps utilities, municipalities and transportation departments reduce energy, repairs and maintenance expenses, while increasing the quality of lighting services through intelligent energy, asset, and fault management. Since its founding in 2012, the company's "best in class" solutions have been used to monitor and control hundreds of thousands of outdoor street and roadway lights in 16 countries. The investment will be used to support CIMCON's channel partners and accelerate development and deployment of the company's Smart City product portfolio. "The worldwide upgrade to LED lighting, coupled with added pressure on cities to reduce operating costs and provide enhanced services to residents, has helped drive adoption of our technologies," said Anil Agrawal, Founder & CEO of CIMCON Lighting. "CIMCON delivers immediate value to our customers while providing a clear path to future Smart City applications such as environmental sensors, traffic and pedestrianmonitors, video analytics, electric vehicle chargers and smart phone apps. We are pleased to partner with EIP as we respond to customer demand to go beyond intelligent lighting by integrating additional grid edge devices and associated data analytics to help realize their vision for a Smart City." Lindsay Luger, Managing Director at EIP added, "CIMCON's software and hardware solutions provide owners of outdoor lighting with a strong value proposition today, as well as a path to enable Smart City applications of the future. Our utility partners that own and operate city street lights are increasingly interested in improving the cost and performance of these systems, as well as providing the public with additional services. We are excited about the natural fit between the utilities' strategic direction and CIMCON's capabilities and vision." About CIMCON Lighting, Inc. About Energy Impact Partners CONTACT INFORMATION CIMCON Lighting, Inc., Energy Impact Partners, LLC To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cimcon-lighting-raises-15-million-300463349.html SOURCE CIMCON Lighting |