D.light Design, a New Delhi, India-based social enterprise that is developing lighting solutions to replace the use of kerosene lanterns by families who don't have adequate electricity, announced earlier this month that it secured $6 million in Series A financing. This financing was led by Nexus India Capital and included participation from Draper Fisher Jurvetson, Garage Technology Ventures, the Mahindra Group, and social funds Acumen Fund and Gray Matters Capital.
D.light Design's mission is to replace every kerosene lantern in the world to provide everyone access to a basic human need: safe and bright light. By 2017, the company is aiming to have improved the lives of 150 million individuals. The following interview of D.light Design CEO Sam Goldman provides some additional background on the company:
D.light introduced its first lighting products earlier this year. The company's products are being sold in India and Africa, with market tests ongoing throughout the world. One of these products - the Nova - is shown below. It can be charged via AC or solar power (click the image for additional product information).
"D.light has a mission to eliminate kerosene lamps in our villages by providing high quality solar-based solutions at price points significantly below comparable products," said Sandeep Singhal, Partner at Nexus India Capital. "The productivity improvement from their solution is huge and we are very excited to be backing a team that has the commitment and leadership to fulfill this mission."
"We are delighted to receive the financial support of such a renowned team of investors. This is a high vote of confidence in our products and our business model," said D.light Design CEO Sam Goldman. "We look forward to better serving the millions of households who deserve and aspire for an increasingly higher quality of life - with greater economic and educational opportunities - that modern lighting provides."
For more information:
- D.light Design - Home page
- D.light Design Receives USD $6M In Series A Financing (November 6, 2008)
- Let There D.light (blog by company CEO Sam Goldman)