Albeo Technologies describes itself as the Dell of the light-emitting diode (LED) world — integrating LEDs and hardware into products for industrial and commercial lighting. Investors apparently see the need for a little Dell-ification of the LED world; Albeo said today it has raised $1.5 million from Denver-based Green Spark Ventures.
Albeo CEO Jeff Bisberg tells us that the company raised the round to expand its distribution channels. Unlike a lot of cleantech startups, which can be more like science experiments than sure businesses, the company already has revenue coming in and has shipped over 20,000 units. Its customers are the guys who light places like convention centers, office buildings, government buildings and hotels. Albeo says it buys LEDs from companies like Cree and Philips Lumileds.
LEDs are considered the future of lighting, as they last leagues longer than incandescents and fluorescents, are smaller than traditional lighting and more efficient. For industrial applications they also are immune to vibration, so can also provide better lighting. And the Energy Bill is saying so long to the traditional bulb — which means “hello” for LEDs.
The only problem is that the cost of LEDs is still too high for most tastes. That’s where companies like Albeo can come in, hopefully using their Dell-style business model to bring down the price.