[High-tech LED News] It is reported that LED manufacturer Bridgelux (Puri) has received 15 million US dollars in financing to accelerate the research and development of LED technology. The company said that the proceeds will be used to develop GaN LEDs on silicon substrates.
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Bridgelux's goal is to commercialize the LED chip technology by 2013. In August of this year, Bridgelux has raised $60 million for the development of GaN epitaxial technology on Si substrates. CEO Bill Watkins said Bridgelux expects the solid-state lighting market to grow from $3 billion this year to $25 billion in 2015.
Investors include VantagePoint Capital Partners, DCM Venture Capital, El Dorado Venture Capital LP, Novus Energy Partners LP, Chrysalix Energy Venture Capital, Harris & Harris Group, Craton Ventures, Jebsen Asset Management and Passport Capital. 
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