Venture capitalists invested $100 million in 14 LED lighting companies in the first quarter of 2010, up from $14 million in the same quarter a year ago, according to Cleantech Group, reports Reuters.
Leading the way is Silicon Valley, the U.S. technology capital. Alan Salzman, chief executive of Silicon Valley-based venture fund VantagePoint Venture Partners told Reuters that his company has $4.5 billion in committed capital in startups across different sectors, but lighting is the largest sector in its portfolio.
Investors are betting that LEDs will take hold with their long life and high energy efficiency benefits, consuming about 20 percent of the energy used by incandescents, despite their higher price tag, report Reuters.
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