Soraa Raises $88.6M For Solid State Lighting

Goleta-based Soraa, one of the LED research firms spun out of U.C. Santa Barbara and the labs of blue LED inventor Shuji Nakamura, has raised $88.6M in a funding, according to a regulatory filing from the firm today. The filing indicates the company is raising $90.26M in this round. Source of the funds have not been announced, however, the firm has previously raised capital from Khosla Ventures, and New Enterprise Associates now holds a seat on the board. The round is a Series B funding. Soraa is working on solid state lighting sytsems, which are based on gallium nitride technology. The firm's founders are UCSB Professors Shuji Nakamura, Steve DenBaars, and Jim Speck. It appears that Soraa is setting up fabrication facilities or a headquarters in Fremont, California, with the funding. More information »