Heliospectra builds LED lighting products for controlled-environment plant growth based on plant physiology and photosynthesis knowledge. After six years of development in Sweden the company has begun expanding into international markets, including the US. The company has raised more than $18 million in capital and received over $2.6 million in academic scholarships and grants. Management says recent orders indicate a commercial breakthrough in the US and expects continued strong sales growth. Proceeds from the recent warrant exercise will be used to accelerate sales approaches, particularly in the expanding US market. Principal owners include Weland Steel, the Swedish Industrial Fund, Midroc and Wood & Hill Investment. Heliospectra develops an intelligent High Brightness Light Emitting Diode (HB-LED) based lighting system for greenhouses that lets growers adjust plant growth and control quality (stem and leaf thickness, plant size and tolerance, and growth rate). The system originated from research in plant biology and was developed in close collaboration with its first customer, Swedeponic, which tested and verified the solution at different stages. The company was founded in 2006 and is led by CEO Staffan Hillberg and Director of Research Tessa Pocock, Ph.D. Heliospectra is relocating from Borås to Göteborg to share offices with the Swedish Institute for Food and Biotechnology (SIK). The company recently raised funding and intends to use the proceeds to launch its solution in the European market.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2015