It raised a $5.5 million Series A round in November 2008. The company raised a $5.5 million Series B round last June from Omidyar Network and existing investors. At D.Light he has been closely involved with the firm’s fundraising and product launches.ĭ.Light has raised several rounds of funding from investors such as Nexus Venture Partners, Omidyar Network, Acumen Fund, DFJ, Gray Matters Capital, Garage Technology Ventures and Mahindra & Mahindra. He earlier founded Sustainable Solutions in 2006 which helped consumer and cleantech private equity investors growth their portfolios, served as CEO of Nano-Tex between 20 (where he built a stain-resistant fabirc technology into a successful consumer nanotech business) and led Winterland between 19, growing sales from $30 million to $110 million. New CEO Donn Tice has been an advisor to D.Light since March 2008 and joined the board in November 2008. Revenues and profit numbers are not known. The company’s product offering currently includes three solar lighting products: the S250 solar lantern and mobile charger, the S10 lantern and the Solata S380 study light. Manufacturing and design is done out of Shenzhen in China and its primary markets are India and Africa. Product design and international sales and marketing is based in Hong Kong. The company is headquartered in the Cayman Islands with corporate headquarters effectively in Palo Alto, California. It makes solar-powered lighting solutions for bottom-of-the-pyramid consumers. That time has come and the board has supported our request.”įounded in 2007 by Stanford Business School graduates Goldman, Tozun, Xianyi Wu, Erica Estrada and Gabriel Risk, D.Light is best described as a micro-multinational. In a letter to employees, Goldman and Tozun write, “Since the beginning we have been clear with our board and investors that at some point we would ask for a seasoned CEO to ensure that we meet D.Light’s ambitious goals. The company’s other founder Ned Tozun continues in his current role as president, retaining responsibility for developing new markets while Goldman will take on the role of chief customer officer said a press release. D.Light Design founding CEO Sam Goldman stepped down today to transition his role to board chairman Donn Tice.
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