Bright LED

Comprehensive Platform for Smart City Applications

Automotive & Mobility Technologies

Acquired (Inactive) by Galileo Tech on Feb 2021 - closed due to acquisition

Company Overview

Snapshot

Founded in January 2009 by Rami Mirsky, Bright LED operates with 11–50 employees. The company has raised $2.2 million across 3 funding rounds from 3 investors. In February 2021, Bright LED was acquired by Galileo Tech.

Business overview

Bright LED develops information and communication technologies to support smart city initiatives, focusing on creating a smart and shared environment for people, vehicles, and devices. Its core product, Coral Reef, is an open smart city platform comprising engine units embedded in street lights with advanced communication and processing capabilities, a cloud-based app store for third-party applications, and a gateway for developers and users to control and monitor features. The platform leverages big data and AI capabilities through cloud-based data repositories, serving the Automotive & Mobility Technologies sector, particularly municipalities and government entities, with solutions in energy efficiency, smart mobility, IoT, and big data.

Strategic signal

In September 2020, news emerged regarding Galileo Tech's intent to merge with Bright Innovations, signaling a strategic consolidation within the smart city technology landscape. This development indicated a potential for enhanced market reach and integrated solutions, as Bright LED's comprehensive platform for smart city applications would likely be integrated into Galileo Tech's offerings, providing investors with a signal of market maturation and strategic value creation through M&A.

Company Intelligence Q&A

When was Bright LED acquired?: Bright LED was acquired by Galileo Tech in February 2021.
What is Bright LED's primary product?: Bright LED's primary product is Coral Reef, an open smart city platform designed to support smart city applications through engine units, a cloud-based app store, and a developer gateway.
What was the strategic news regarding Bright LED in September 2020?: In September 2020, it was reported that Galileo Tech intended to merge with Bright Innovations, highlighting a significant consolidation event in the smart city technology sector.

External links

Bright LED — full profile (machine-readable)

Bright Innovations develops information and communication technologies designed to support the smart city vision of a smart and shared environment for people, vehicles, and devices inhabiting the urban environment. The company achieves its goal primarily through its Coral Reef solution, an open smart city platform divided into three parts. The first part entails the Coral Reef engine units (or nodes), which are embedded into or attached to street lights and have advanced communications and processing capabilities. The second part of the system is the Bright Innovations app store, a cloud-based data center where third-party applications can utilize onboard hardware to provide smart cities with a multitude of applications and solutions. Collection and analysis in cloud-based data repositories enables big data and artificial intelligence (AI) capabilities. The third part of the Bright Innovations platform is a gateway for application developers and users that provides advanced control and monitoring features.

Facts
Name	Bright LED
One-liner	Comprehensive Platform for Smart City Applications
Type	Startup
Primary sector	Automotive & Mobility Technologies
Founded	2009
Employees	11-50
Employees (exact)	14
HQ / location	Haifa, Sha'ar Palmer Street 2, Haifa, Israel, North District
Product stage	Released
LinkedIn	https://www.linkedin.com/company/11619461
Crunchbase	bright-innovations
IL Registrar	514291236

Facts

Name

Bright LED

One-liner

Comprehensive Platform for Smart City Applications

Type

Startup

Primary sector

Automotive & Mobility Technologies

Founded

2009

Employees

11-50

Employees (exact)

HQ / location

Haifa, Sha'ar Palmer Street 2, Haifa, Israel, North District

Product stage

Released

https://www.linkedin.com/company/11619461

Crunchbase

bright-innovations

IL Registrar

514291236

Classification
Sectors	Automotive & Mobility Technologies, Urban Mobility
Core technology	Platforms & Interfaces, Data Storage, Cloud
Target customers	Government & City, Municipalities
Business models	B2B, B2G
Tags	energy-efficiency, led, lighting, energy, smart-city, traffic, municipalities, commercial-sites, communications, smart-mobility, optronics, iot, big-data

Classification

Sectors

Automotive & Mobility Technologies, Urban Mobility

Core technology

Platforms & Interfaces, Data Storage, Cloud

Target customers

Government & City, Municipalities

Business models

B2B, B2G

Date	Round	Amount	Investors
Nov 2011	Seed	$500K	IEC
Feb 2018	Undisclosed Round	$1.2M	Mayfair 101
Feb 2009	Seed	$500K	hiCenter Ventures

Date	Source	Summary
Sep 2, 2020	www.news1.news	https://www.news1.news/en/2020/09/galileo-tech-will-merge-with-bright-innovations.html
Oct 30, 2018	www.proactiveinvestors.com.au	Bright Innovations leading the way with smart city technology and support of Mayfair 101
Mar 2, 2018	stockhead.com.au	Smart Cities play Bright Innovations aims for $8m IPO second time around - Stockhead
Feb 8, 2018	www.afr.com	IPO hopeful Bright Innovations nabs heavyweight backer
Jan 29, 2018	www.calcalistech.com	Israeli Tech Is Flying High Down Under

Bright LED

Company Overview

Snapshot

Business overview

Strategic signal

Company Intelligence Q&A

External links

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