ROSH HA'AYIN, Israel--(BUSINESS WIRE)--Juganu, an Israeli company developing and manufacturing innovative LED lighting systems, has announced the completion of a financing round, led by Viola Growth, totaling about $23 million. Additional investors participating in this financing round include OurCrowd and a Mexican investment fund.
Based on an innovative LED lighting technology capable of changing light composition and featuring an advanced infrastructure for AI technology, Juganu has developed its patented, proprietary "Digital World" technology in cooperation with software and hardware technology market leaders.
"Juganu is a combination of brilliant entrepreneurs, breakthrough technology and vision, reinventing lighting and communications infrastructures and those for applications, affecting any organization, from tech corporations and retail chains to local authorities,” said Viola Growth General Partner Ayal Shiran. “The company has a unique technology with the potential to expand into other industries. The latest financing round will allow it to speed up its R&D while also expanding marketing and sales operations in Israel and overseas."
Juganu Co-founder and CEO Eran Ben-Shmuel commented: "The funds will allow us to move forward more quickly towards realizing the company's vision, and is a major vote of confidence by leading agents in the high-tech market. We will bring our technologies to some of the world's major cities, international retail chains, public institutions and more.”
One of Juganu's closest strategic collaborations over the past five years has been with Qualcomm. This cooperation, using unique hardware developed by Juganu, allows for the "Digital World" solution to be embedded in cities and public spaces, transforming any space into an IT enterprise infrastructure with full IoT connectivity. As a result, it can serve apps and applications, such as AI, urban support for smart cars, traffic control, advanced security and rescue applications, modern municipal services, and full real-time monitoring of infrastructure
The "Digital World" already today connects lighting fixtures in public spaces, facilitating broadband communications networking of wireless grids, on the back of street lights without requiring expensive fiber optic communication cables: The costs of building Juganu's communications and lighting-based infrastructure for municipal authorities saves up to 90% of the costs of solutions applied today. In addition, Juganu's lighting reduces the consumption of public electricity by up to 80%.