This post will be at the bottom by the end of the day so....
"Investors light up Finally bulb company with $15m" by Curt Woodward Globe Staff January 03, 2017
A new idea for replacing the old-school incandescent lightbulb has attracted more investor cash as a small Boston company tries to establish a foothold against the rapidly growing LED lighting market.
Finally Light Bulb Co. said Tuesday that it has raised $15 million from individuals and family investment offices. The company, headed by former IdeaPaint founder John Goscha, has now raised a total of $38 million. Investors valued the company at $75.5 million after accounting for the new cash.
$ure i$ a lot of money out there if you know where to $hine the light.
Finally sells next-generation bulbs that are designed to emit a warmer, more yellow-toned light than many semiconductor-based LED bulbs. The startup debuted its bulbs in 2015 and sold more than 100,000 of them last year, increasing its distribution footprint from 23 retail outlets to more than 1,400, including Staples and Ace Hardware, Goscha said.
Finally Light Bulb Co. uses a modernized version of technology conceived by famed inventor Nikola Tesla.
He was Russian so you instantly need to discount that and regard it with suspicion.
“In a hardware, consumer-product technology, which hasn’t been the hottest space here in the US, it’s amazing to see the kinds of people who have gotten attracted to our technology and our bulb,” Goscha said. “That momentum that we’re seeing on the retail side has clearly translated into investor excitement.”
But Finally will need a lot more progress if it hopes to make a dent in the market.
LED bulbs are leading the race to replace metal-filament bulbs, which are being phased out as the government toughens energy-efficiency standards. Goscha said his company’s bulbs, though a direct competitor to LED lights, have a benefit that they do not: a more pleasing, less harsh, glow.
Finally’s bulbs are based on a modernized version of technology proposed in the 1890s by famed inventor Nikola Tesla.
A copper coil inside each Finally bulb produces an electromagnetic field that prompts a mix of gases to produce ultraviolet light. That’s turned into visible light when it passes through a phosphor coating on the inside of the bulb’s glass.
The process, known as induction, has been used for years in industrial lighting but was only recently adapted for home use. Finally says its bulbs are 75 percent more efficient and last 15 times longer than old incandescent models.
They have been sitting on this for how long?
Goscha said Finally fine-tuned its manufacturing operations in India and China during 2016, allowing it to raise quality and cut costs....
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Finally!
