BOSTON, July 12, 2017 /PRNewswire/ -- CIMCON Lighting, the leading global provider of Intelligent Lighting and Smart City technologies, announced today that it has been identified by Business Insider as the 6th hottest enterprise startup of 2017.
Using a metric called "valuation step up" that indicates the increase in worth that investors attribute to a startup and with the assistance of Pitchbook, Business Insider identified that 169 of the 383 companies that received funding in the first half 2017, saw an increase in valuation. Of these 169 companies, CIMCON Lighting was ranked 6th with a "step-up" of 7.11 times more value in 2017 than its previous valuation; the median step up for early stage startups was 1.73 times previous valuation.
"CIMCON Lighting is very pleased to be recognized by Business Insider as one of 2017's hottest startups," said Anil Agrawal, CEO. "Our recent funding will allow us to continue delivering utilities, cities and municipalities with innovative solutions with immediate value, while providing them with a clear path to implementing future Smart City applications such as video analytics, traffic and pedestrian monitors, environmental sensors, electric vehicle chargers and smart phone apps that support a safer, more secure and environmentally friendly urban experience."
About CIMCON Lighting
CIMCON Lighting is the world's leading provider of scalable, intelligent wireless outdoor lighting management solutions for traditional, LED and solar-based street lights along with a variety of Smart City devices and applications. Focused on offering solutions that provide the lowest "Lifecycle Cost of Ownership," CIMCON provides hardware and software technologies that allow Cities and Utilities to monitor, maintain and in many cases, monetize their lighting assets and other devices on or near the light pole. CIMCON's "Just in Time Lighting™" reduces energy, maintenance and repair costs while improving the quality of lighting services and enabling the path to a Smart City. CIMCON's lighting management solutions are appropriate for roadways, parking lots and parking garages, corporate and university campuses and a variety of Industrial applications. For more information please visit www.cimconlighting.com.
Heidi Sporel, Director of Marketing, +1.978.392.4091, firstname.lastname@example.org
SOURCE CIMCON Lighting