Published On: Sun, Apr 4th, 2021

Deako Lighting raises $12.5m for plug-n-play light switches

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Deako Lighting, a -based company that develops plug-n-play switches, announced in mid-March that it had raised $12.5 million in a Series B financing round.

So far, the lighting system provider has pocketed $36 million in total funding.

Deako Lighting said the capital from the new funding round will be used for adding distribution partners and ramp up its production capacity.

The lighting company will also grow its line-up of plug-n-play light switch products to address the requirements of multi-family and custom home builders.

Deako Lighting raises $12.5m in Series B round for plug-n-play light switches

Deako Lighting raises $12.5m in Series B round for plug-n-play light switches. Photo courtesy of Deako Lighting.

Derek Richardson – Deako Lighting founder and CEO said: “Deako has secured exclusive supply agreements from high-volume home builders to include our light switches in every home they build.

“With commitments to be installed in 1 out of 8 new single-family homes, Deako is experiencing unprecedented growth. These agreements are driving double-digit monthly compound revenue growth, while adding two new markets weekly.”

With six different manufacturing partners located across three countries, Deako Lighting estimates its production capacity to increase by over 400% by the year-end, and will continue to show a similar growth trend in 2022.

The lighting company claims that its plug-n-play switches – both simple as well as smart type, can be changed within seconds by anyone, without needing to call an electrician. Also, the low-cost switch products make it affordable for any builder to include them as default throughout the home, said Deako Lighting.

The company is said to offers a variety of customized options, which include dimmer switches, and smart switches.

– Deako Lighting Chief Operating Officer said: “We’ve had overwhelming interest from electricians looking to buy and install Deako and are adding approximately 10 new electricians per week across the country. To meet the need we have expanded our distribution presence nationally.”

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