# Sollum Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sollum-technologies

- Industry: Electronics
- Headquarters: Montreal, Canada
- Website: www.sollumtechnologies.com
- Total disclosed funding: $2.7M
- Latest round: Series B (Jun 1, 2020)
- Investors on record: 4

## About

Sollum Technologies Inc. focuses on revolutionizing greenhouse cultivation with innovative lighting solutions, utilizing advanced LED technology to optimize plant growth and enhance agricultural productivity.Founded in 2015 in Montreal, Canada, Sollum Technologies Inc. specializes in smart LED grow lights that replicate natural sunlight for greenhouse applications. The founders include Francois R-Moisan, Gabriel Dupras, and Jacques Poirier, with Louis Brun serving as the CEO. The company has successfully completed seven funding deals, with the most recent funding round on January 16, 2023, raising USD 30.00 mn from investors Idealist Capital and Fondaction CSN, bringing the total amount raised to USD 30.00 mn.Sollum Technologies specializes in providing a comprehensive solution for greenhouse cultivation through its core product offerings, which include smart LED grow light fixtures, the SUNaaS® cloud platform, and ongoing support services. The dynamic LED fixtures are designed to replicate the sun's natural light spectrum and intensity, making them suitable for a wide range of crops such as gerberas, roses, tomatoes, and cucumbers. These products enhance productivity, improve the quality of produce, and optimize growth conditions in greenhouses across North America and parts of Europe. The company's clientele primarily consists of horticulturists and agricultural businesses transitioning from traditional HPS lighting systems to energy-efficient LED solutions, with a focus on collaboration to create tailored lighting strategies.Sollum Technologies' revenue model is driven by a combination of direct sales and subscription-based services. The company's flagship product, the SUN as a Service® (SUNaaS®) platform, operates on a subscription basis, providing customers with access to dynamic lighting management and ongoing technical support. Transactions typically involve the sale of LED fixtures along with the SUNaaS® platform integration, ensuring clients receive a holistic solution for their lighting needs. The revenue stream is bolstered by partnerships with greenhouse operators seeking innovative lighting solutions that enhance crop yield and operational efficiency.In January 2023, Sollum Technologies Inc. raised USD 30.00 mn in venture funding to accelerate growth and expand operations. Future plans include the development of new products aimed at improving greenhouse efficiency and expanding into additional markets, with efforts focused on regions beyond North America and Europe. This funding will be utilized to support these initiatives and enhance the company's product offerings.

## Funding rounds

- Series B, Jun 1, 2020, $2M — Investment Quebec, Real Ventures, BoxOne Ventures, Alter Ego Capital
- Series A, Jan 1, 2017, $0.7M — Real Ventures, BoxOne Ventures, Alter Ego Capital

## Investors

- Real Ventures — Series A, Series B
- BoxOne Ventures (https://capitalatlas.ai/funds/boxone-ventures) — Series A, Series B
- Alter Ego Capital — Series A, Series B
- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Series B