iSotera’s intelligent LED lighting system squeezes the best possible energy efficiency from LED lights, and makes installation far more affordable. This lowers the cost of ownership and encourages accelerated adoption of ‘green’ LED lighting and automated lighting controls.
iSotera’s system will revolutionise the installation of energy-efficient lighting systems by making it faster, cheaper and safer for electrical contractors to install and for facility managers to maintain. The system is based on novel power distribution architecture and features contactless power transfer. It provides a durable lighting infrastructure in buildings and outdoors whilst reducing capital costs by 30-50% and reducing electronic waste by as much as 60%.
iSotera is working in partnership with key players in the global lighting supply chain to offer end-to-end solutions to contractors and system integrators. The company will use the funds to expand the team, launch its first suite of products and generate revenues.
Having met iSotera’s founder Marc Ottolini in Cambridge, Paul Anson, Tim de Vere Green and Nathan Hill of Qi3 Accelerator offered to work with iSotera to bring together a syndicate. This broad group includes investors from Qi3 Accelerator, the Low Carbon Innovation Fund (LCIF) (part funded by the EU), Moonray Investors, Synergy Energy, London Business Angels and the LBA EIS Roundtable Syndicate Fund, Martlet, Cambridge Angels, Cambridge Capital Group and Surrey Investment Club.
iSotera’s CEO Marc Ottolini said: “With the completion of this funding round we shall now implement our mission, which is to turn iSotera into the default network infrastructure of intelligent lighting, the invisible part of the system that makes it all work. I am delighted to have a group of investors behind us who had the vision to back us at this early stage. Qi3 Accelerator did amazing work to pull this large syndicate together and LCIF’s involvement was a great encouragement for other investors to join. The end result is not only the money but also a high calibre Board. During the many months that we have been working together on this deal we have gelled as a team, allowing us to make a running start. I hope that our efforts will further strengthen the power electronics cluster in Cambridge.”
Qi3 Accelerator’s Paul Anson who led the syndicate said “our focus is investment in the resurgence of British High Value Manufacturing and Engineering businesses. We have brought together the skills and financial resources of a wide range of investors with technology and business experience, all of whom share an excitement in the prospects for iSotera’s smart LED lighting network. We have worked with Marc for over a year to develop the business plan, structure the Board and management team to deliver success. The advent of LED lighting is an established trend – iSotera’s novel power distribution and control system will squeeze the best possible energy efficiency from these lights and reduce the cost of ownership. I look forward to iSotera’s product launch later this year’.
Advisors to the transaction included Harrison Clark, Taylor Vinters, Mills and Reeve and Gill, Jennings and Every. Peter Cowley and 42 Technology provided technical due diligence and design support.
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Enquiries
iSotera: Marc Ottolini, CEO mottolini@isotera.com +44 (0)7811 459011
Qi3 Accelerator: Nathan Hill, CEO nathan.hill@qi3.co.uk +44 (0)20 7925 1992
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