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COLOR KINETICS CLOSES THIRD ROUND OF FINANCING
Deutsche Bank Leads Investor Group; Over $13 Million Raised
BOSTON — January 25, 2000 — Color Kinetics Incorporated, the
pioneer of full spectrum digital lighting, today announces the completion
of its third round of equity financing, with Deutsche Bank as the
lead investor. This round featured significant participation from
the company's existing investors as well as from several new investors,
and has raised over $13 million for the company.
The investment will be used to support accelerated growth for the
company. In addition to strengthening Color Kinetics' leadership
in the full spectrum digital lighting space, this latest round of
capital will enable Color Kinetics to actively extend the digital
technologies in its growing patent portfolio into new markets. Color
Kinetics will continue to broaden product offerings based on Chromacore™,
the company's patented technology (see press release dated 1/25/00,
"Color Kinetics Awarded U.S. Patent for Chromacore") that
utilizes multiple LEDs (light emitting diodes) to generate 16.7
million colors and a variety of color-changing lighting effects.
According to industry analysts, the worldwide LED market is estimated
at $1.8 billion, with strong forecasts for rapid growth.
Lead investor Deutsche Bank is one of the premier global banks as
measured by product breadth, geographic reach and client relationships,
and ranks among the leaders in asset management, capital markets,
corporate finance, custody, cash management and private banking.
"Color Kinetics is a truly innovative company — one that has
pioneered a brand new market category poised to experience explosive
growth. We are extremely excited to be a part of this growing team,"
said Tom Dechaene, the Deutsche Bank Director who lead the deal.
"With its unique core technologies, strong intellectual property
holdings and market-definer status, Color Kinetics is exceptionally
well positioned to embrace the enormous opportunities that exist
for its current markets and to extend its innovation into new intelligent
technology arenas."
Color
Kinetics designs, manufactures and markets a full line of products
based on Chromacore that today are used in visual merchandising,
architectural, entertainment, theatrical and signage applications.
Since its introduction in 1997, Color Kinetics has earned numerous
industry awards, and has built a client list that reads like a "Who's
Who" of the retail, entertainment and design industries.
George
Mueller, Color Kinetics President and CEO, states that this round
of investment marks an especially significant milestone for the
company. "This latest funding reaffirms Color Kinetics' strategic
direction and success to date, while enabling us to take some important
next steps to grow the company, expand our product line and take
our technology in some exciting new directions. The financial and
strategic expertise that Deutsche Bank brings to the table is a
strong complement to our existing investors' core market experience.
We're thrilled to have the support of all of our investors as we
advance our quest to create a more bright and colorful world."
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