Daintree Networks, a developer of energy-saving wireless control solutions for commercial buildings, announced today the successful conclusion to its latest round of capital funding with the entire $8 million round subscribed by Lend Lease’s venture capital business.
Daintree's Wireless Lighting Control Solution (WLCS) (pictured below) is intended to overcome the traditional barriers to retrofitting existing buildings with energy saving lighting control systems – the rewiring. The company claims that its solution delivers significantly shorter payback periods, especially in retrofits, as compared with wired solutions.
Daintree, which is based in Mountain View, California, with an R&D facility in Melbourne, Australia, indicated that the new capital will be used to fund the company’s worldwide expansion as well as ongoing technology and product development.
Danny Yu, Chief Executive Officer of Daintree Networks, said "We welcome our partnership with Lend Lease and the expertise and commercial opportunities it brings to help accelerate our vision to become the leading provider of wireless solutions to the lighting industry."
Anthony Pascoe, Chief Executive Officer of Lend Lease’s venture capital business, said "Energy use in commercial buildings is one of the largest sources of greenhouse gas emissions. Daintree Networks' innovative technology and excellent management team support Lend Lease’s leadership in sustainable building construction and refurbishment globally."
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