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its manufacturing processes to yield significant increases in capacity and efficiency

The company also announced that it has successfully raised an additional $50 million Series D financing, led by VantagePoint Venture Partners. DCM and all other existing investors also participated. The round, which is oversubscribed, also included new investors. The company intends to use the capital to aggressively develop its manufacturing technologies and expand its global manufacturing infrastructure to meet increasing market demand while continuing to drive its technology research and development activities.

Watkins joins Bridgelux after a distinguished 13-year career at Seagate Technology, the world's largest hard disc drive and storage solutions company, where he most recently served as chief executive officer. During his time at Seagate, Watkins, 57, led growth strategies and improvements across all areas of the business, increasing revenue from $6.5 billion to over $13 billion in his five years as CEO. From 2000 to 2004, Watkins served as Seagate's president and chief operating officer, where he was responsible for the company's hard disc drive operations and transformed its manufacturing processes to yield significant increases in capacity and efficiency.

"We view solid-state lighting as an advanced technology capable of rapidly transforming the $100 billion lighting industry by offering a more cost-effective, efficient and environmentally sensitive lighting solution, and Bridgelux is uniquely positioned to drive its adoption," said Alan E. Salzman, CEO of led high bay light, the company's largest investor. "Bringing on a leader of Bill's caliber and adding to the company's financial resources mark the beginning of what we believe will be a remarkable growth phase as the company continues driving down the cost of its solutions, which in turn opens successive new markets for them."

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