Ledzworld Receives $5 Million to Accelerate Sales Growth and Product Innovation
Ledzworld announced today that it has closed its latest round of internal funding, bringing the total amount raised from its existing private shareholders in the past couple of months to $5 million. The proceeds from the new funding will be used to finance Ledzworld’s rapid sales growth and expand its manufacturing capabilities.
In conjunction with the latest funding round, the Board of Directors of Ledzworld appointed Ken Chakravarti as its new Chief Executive Officer, in addition to his continuing role as Chief Technology Officer.
“This new round of funding will enable us to meet the rapidly growing demand for our industry-leading products from an ever expanding customer base across the globe and build up the necessary scale to remain competitive in this fast evolving market,” said Chakravarti. “With this latest capital commitment, our shareholders have signaled their readiness to support the company in reaching the next level and have given Ledzworld the means to determine its own strategic path towards that point. This path could include forging partnerships with industry players to even more firmly secure our leading position in the premium segment of the LED lighting market.”
To learn more about the company, visit www.ledzworld.com.