Texas LED Company Lands $16M in Financing

A Texas-based lighting business that caters in part to cannabis growers has netted $16 million in funding, lifting the company’s total investment haul to $76.8 million since its inception a decade ago.

Illumitex, which produces high-grade light-emitting diodes (also known as LEDs), raised the money via a round led by WP Global Partners, a Chicago-based investment firm, according to the Austin Business Journal.

Although most of Illumitex’s customers are in traditional agriculture, the burgeoning marijuana industry is responsible for a good bit of the company’s growth, CEO Chris Hammelef told The Wall Street Journal.

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Texas LED Company Lands $16M in Financing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs