Light-Based Technologies

About Light-Based Technologies

Light-Based Technologies Inc. was a Canadian company established in 2004, positioning itself in the solid-state lighting market. The venture was initiated by Jeanette Jackson, who commercialized technology originally developed by her father, Vern Jackson. The firm's operational focus was on the design and manufacturing of LED driver and LED controller integrated circuit (IC) solutions. These products were developed for manufacturers of solid-state lighting fixtures, offering proprietary control and power electronics intended to reduce adoption barriers and improve functionality for LED lighting.

The company successfully attracted significant venture capital, securing a total of $17 million over three funding rounds. A notable financing event was its Series B round on September 19, 2011, which raised $7.5 million. Key institutional investors included VantagePoint Capital Partners, Chrysalix Venture Capital, and GreenAngel Energy. In 2011, a management change occurred when Art Aylesworth, former CEO of Carmanah Technologies Corp., took over the CEO role from founder Jeanette Jackson, concurrent with the Series B investment.

Despite its promising technology and substantial financial backing, Light-Based Technologies faced insurmountable market pressures. The rapid pace of change within the lighting technology sector proved to be a significant challenge, and the company was unable to adapt its products and strategy quickly enough. After a search for a buyer or additional investment proved unsuccessful, the company exhausted its cash reserves. Consequently, the board of directors made the decision to wind down operations, and the company ceased to exist in late 2013, marking its status as a deadpooled entity.