L.E.S.S. raises CHF 14 million to enter the automotive market

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03.07.2019
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After two years of working with different players in the automotive industry, L.E.S.S. SA is now ready to bring its ultra-bright and ultra-thin lighting systems to the new market. The company has raised CHF 14 million series B round to accelerate the industrialization and production of the products.

Based in Renens (VD) L.E.S.S develops and commercializes a new generation of ultra-bright and ultra-thin lighting systems based on nano-active fiber technology. The technology has proven itself as a disrupting alternative to the LED technology setting a new standard of lighting quality.

Since its foundation, L.E.S.S has been successfully delivering high-quality inspection lighting systems. In 2017, the revolutionary potential of the technology was displayed for the first time on a demo car at the Geneva International Motor Show. Thanks to the versatility of its laser wire technology, L.E.S.S. is able to adapt to the increasing demands of car designers for thin, low weight and bright automotive lighting. The thinness, the flexibility and the three-dimensional lighting nature of L.E.S.S. laser wire technology allows for the creation of unprecedented car lighting signatures.

The startup has now closed a new CHF 14 million series B financing round led by new private investors from the automotive industry, existing private investors from the venturelab community and the venture capital firm VI partners. The proceeding of the round will enable LESS to consolidate its current collaborations and strongly support the industrialization and the production ramp-up of its products for the automotive market.

L.E.S.S. has been working tightly with different players in the car industry to reach the necessary milestones to enter the automotive market. Elaborating more about the new milestone, Yann Tissot, CEO of L.E.S.S., says:

“The automotive market is in full transformation and I am convinced we will have a strong impact on future cars design. However, the automotive market demands strict planning, validation and milestones. Therefore we are glad to have convinced key investors from this specific industry to support us on this path. In addition, benefiting from the continuous commitment of our early investors is a strong indicator of their trust in the long term strategy of the company.”

(Press release/ran)

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