Zurich, 29.01.2020 – The fast-growing cleantech start-up LEDCity has already saved the annual energy consumption of over 3000 households with the help of smart light sources. The forthcoming expansion is now to be made possible by an impact investment.
The vision of LEDCity is clearly formulated: With the help of its technology, energy consumption in the lighting sector is to be reduced by 80 percent compared to the founding year 2017. To achieve this, the Zurich start-up is going one step further than conventional “smart lighting” – because it is not yet really smart. In most commercial buildings, the light burns from early in the morning until late in the evening, despite installed motion detectors. In the LEDCity solution, AI-trained algorithms control the light autonomously and dynamically. This massively reduces energy costs and at the same time increases comfort.
The need to save energy is obvious. Worldwide, twelve percent of electricity is used for lighting. On the one hand, this results in high costs and, on the other hand, has drastic effects on the environment. LEDCity wants to take the next step and expand both nationally and internationally. This expansion will focus on industrialized countries with high energy costs and on developing countries with an outdated lighting infrastructure.
So far, the Zurich-based start-up has been able to establish itself in the Swiss lighting market thanks to start-up financing from the Swiss Climate Foundation and the Swiss Federal Office of Energy – without any further investment. Last year they broke through the CHF 1 million mark for the first time. To be able to meet the financial challenge of expansion, the team around CEO Patrik Deuss is currently looking for an impact investment. With the help of this, they hope to gain access to around three million francs through the Technology Fund of the Federal Office for the Environment, for which they will need two and a half million francs in equity capital, among other things.