Silvair new funds for the further development

Cracow, July 26, 2018 - Silvair, a pioneer in smart lighting technologies based on the Bluetooth mesh networking standard, obtained new funds for the further development of its wireless lighting control solution. The company has recently issued new shares in an initial public offering at the Warsaw Stock Exchange (WSE) raising PLN 20.1 million (approx. $5.5 million) from institutional and private investors. The funding confirms interest in smart lighting and IoT solutions.

“The funds we raised will allow us to continue working on our interoperable wireless lighting control solution. Not to mention that having been listed on the Warsaw Stock Exchange has definitely increased the prestige of our company. We are glad that there are people who believe in Silvair’s success. The investors decided to place their trust in us having seen the potential in the IoT and smart lighting. Thanks to their support, we assume that we will be able to expand the company’s operations and invite more highly talented people to join our team.” said Rafal Han, CEO of Silvair.

The funds raised from the investors will be allocated to the development of Silvair’s interoperable wireless lighting control solution as well as to business and marketing activities. Silvair is the world’s first provider of a qualified Bluetooth mesh technology used for smart lighting applications. With a variety of Bluetooth mesh lighting devices developed by Silvair’s partners becoming available on the market, the company’s focus is currently on driving professional implementations of its technology.

About Silvair

Silvair provides an interoperable wireless lighting control solution based on the Bluetooth mesh networking standard. Component manufacturers can easily integrate it into a variety of products, flexibly choosing specific features in accordance with their customers’ needs. In addition, our intelligent lighting platform includes dedicated tools for commissioning and managing connected lighting systems in commercial buildings, effectively future-proofing them against increasingly stringent energy codes. The platform also lays the foundation for many IoT services that improve the well-being of occupants and enable substantial cost savings.