L.E.S.S. SA closes CHF 3.0 million Series A financing round to boost the commercialization of their revolutionary lighting systems.
28.04.2015
L.E.S.S. SA, a Swiss high tech company producing a new generation of ultra-bright and ultra-thin lighting systems, announced on April 28th 2015 that it has secured CHF 3.0 million in equity financing through institutional and private investor. This will allow the company to boost sales and support the development of a larger production to respond to the demand of key customers in Japan, Germany and Switzerland.
 Simon Rivier, CTO of L.E.S.S. and Yann Tissot, CEO (picture: Tina Sturzenegger).
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The new technology and products developed by L.E.S.S. open many opportunities for companies active in the industrial vision, the automotive lighting and the display backlighting. The core technology, based on a nano-active fiber, is revolutionizing the world of technical lighting by replacing the existing LEDs. “We deliver illumination products to our customers that exhibit the highest light quality on the market. The thinness, the flexibility as well as the ultra-uniform and directional lighting characteristics of our fiber allows for new product designs that have been unexplored so far”, said Dr. Yann Tissot, CEO. “We are active in markets that demand a ramp-up of our production volumes. This financing round will allow us to strengthen our position and deliver our products in significant higher volumes to fulfill the growing needs of our customers.”
L.E.S.S. SA was founded in 2012 and has already won the most prestigious innovation and business awards in Switzerland. In 2014, L.E.S.S. was ranked 2nd in the TOP100 Swiss Startups by hundred experts of the startup scene (startup.ch).
“VI Partners was attracted by the huge potential of L.E.S.S., confirmed by early economic indicators. «L.E.S.S. has what it takes to change an entire industry», said Alain Nicod, General Partner.
Besides institutional funds, L.E.S.S. attracted business angels with great industrial networks, “I am pleased we managed to get not less than three ’Business Angels of the Year’ on board, all successful entrepreneurs themselves!” said Yann Tissot.
“We are fully convinced, that the founders of L.E.S.S. are able to grow a world-class company and therefore gladly contributed with our Founders Cash Pot, a network of former founders and business angels, to this round.” says Beat Schillig from venturelab.
Indeed, L.E.S.S. can not only count on the commitment of leading Swiss business angels but also on investments of founders of Composyt Light Labs and Lemoptix, companies recently acquired by Intel. ”This shows that we enter a new era of the investment scene in Switzerland with significant investments of successful founders into start-ups. This is what was lacking so far compared to the ecosystem of the Silicon Valley and we are pleased to contribute to this evolution,” said Dr. Yann Tissot, CEO.
About L.E.S.S. SA
L.E.S.S. SA was incorporated as a Swiss SA (“Société Anonyme”) in June 2012 by Dr. Yann Tissot, CEO and Dr. Simon Rivier, CTO and has its headquarters located in Lausanne, Switzerland. L.E.S.S. SA develops, manufactures and markets novel lighting systems for the industrial vision, known as "ShadowLESS” systems and counts customers in Switzerland, Germany and Japan. The company goal is to expand its activities to the automotive and display markets. It is a winner of leading Swiss innovation and business awards, among which, “Venture Kick 2012”, “Prix de Vigier 2013”, “venture 2014”, “Prix Strategis 2014” or “IMD’ 2014”. The company has also been supported by the “Canton de Vaud” (SPECO & Innovaud), the “Fondation pour l’ innovation technologique” (FIT) and venturelab.
L.E.S.S. SA was founded in 2012 and has already won the most prestigious innovation and business awards in Switzerland. In 2014, L.E.S.S. was ranked 2nd in the TOP100 Swiss Startups by hundred experts of the startup scene (startup.ch).
“VI Partners was attracted by the huge potential of L.E.S.S., confirmed by early economic indicators. «L.E.S.S. has what it takes to change an entire industry», said Alain Nicod, General Partner.
Besides institutional funds, L.E.S.S. attracted business angels with great industrial networks, “I am pleased we managed to get not less than three ’Business Angels of the Year’ on board, all successful entrepreneurs themselves!” said Yann Tissot.
“We are fully convinced, that the founders of L.E.S.S. are able to grow a world-class company and therefore gladly contributed with our Founders Cash Pot, a network of former founders and business angels, to this round.” says Beat Schillig from venturelab.
Indeed, L.E.S.S. can not only count on the commitment of leading Swiss business angels but also on investments of founders of Composyt Light Labs and Lemoptix, companies recently acquired by Intel. ”This shows that we enter a new era of the investment scene in Switzerland with significant investments of successful founders into start-ups. This is what was lacking so far compared to the ecosystem of the Silicon Valley and we are pleased to contribute to this evolution,” said Dr. Yann Tissot, CEO.
About L.E.S.S. SA
L.E.S.S. SA was incorporated as a Swiss SA (“Société Anonyme”) in June 2012 by Dr. Yann Tissot, CEO and Dr. Simon Rivier, CTO and has its headquarters located in Lausanne, Switzerland. L.E.S.S. SA develops, manufactures and markets novel lighting systems for the industrial vision, known as "ShadowLESS” systems and counts customers in Switzerland, Germany and Japan. The company goal is to expand its activities to the automotive and display markets. It is a winner of leading Swiss innovation and business awards, among which, “Venture Kick 2012”, “Prix de Vigier 2013”, “venture 2014”, “Prix Strategis 2014” or “IMD’ 2014”. The company has also been supported by the “Canton de Vaud” (SPECO & Innovaud), the “Fondation pour l’ innovation technologique” (FIT) and venturelab.