NanoLumens In Midst of $30M Raise To Boost Production, Marketing

January 20, 2017 by Dave Haynes

It looks like Atlanta-based specialty LED display manufacturer NanoLumens plans to put its foot on the business gas pedal in the coming year, as it is in the midst of a $30 million investor round for capital to boost production and marketing.

The company, reports Atlanta Business Chronicle, has already raised at least $7 million of that. Nano says the raise is primarily being guided by CEO/Founder Rick Cope.

The story says:

The new capital will be used to boost production and for sales and marketing, CEO Richard Cope said. Nanolumens has seen annual revenues grow more than 70 percent over the past five years, Cope said.

NanoLumens, which is in nine major airports, is chasing a $20 billion global market opportunity. Clients include New England Patriots, CBS Outdoor, The Charles Schwab Corp. (NYSE: SCHW), Delta Air Lines Inc. (NYSE: DAL), The Estée Lauder Companies Inc. (NYSE: EL) and Invesco Inc. (NYSE: IVZ).

NanoLumens, founded in 2006, has raised about $30 million in the past few years from angel investors, including resort developer and pharma and motorsports entrepreneur, Don Panoz.