SANTA CLARA, CA — Element Labs recently completed a round of financing led by Expansion Capital, which announced plans to build on its existing Cobra V8 and C11 product offerings with additional products using the Cobra platform. Element Labs also recently completed the 274 square meter City of Dreams casino project in Macau, and Cobra has been used for other applications as well, including a project in New York’s Times Square.
Element Labs has also reported increased demand for products such as Stealth and Versa Tubes, which have been used for the Britney Spears Circus tour, for the Bay Adelaide Centre in Toronto, for the Eurovision Song Contest Moscow 2009, for the Hard Rock Café in Orlando, for the New Orleans Essence Music Festival 2009 and for the 2009 Grammy Awards.
The company also reported that total revenue in Q3 quadrupled compared to Q2, and bookings for the first month of Q4 exceeded those for all of Q3.
New business in recent months has come from rental agencies in the US, Canada, Belgium, UK, Italy, Denmark, Germany, Japan and Mexico.
To extend its market channels, the company has signed distribution agreements in the
US, Canada and Australia with LEDSource, SF Marketing and Bytecraft, respectively.
Fixed installation projects include corporate headquarters, theaters, casinos, cruise ships, sports stadiums, restaurants, mobile trailers and retail store fronts.
A popular segment around the world is TV studios, where Element Labs has seen a
wide range of its products being deployed.
“We’ve seen a great response to Cobra,” said Marc van Eekeren, VP of sales and business development.
“C11 has gotten a strong response in the entertainment market where we’re starting to book very large orders,” added Barbara Nelson, President and CEO. “We’re also seeing an increased demand for our Helix product especially in architectural installations.”
Bernardo Llovera, general partner of Expansion Capital, said, “The launch of the Cobra V8 and C11 products has positioned Element Labs better than at any time in its history to take advantage of new market opportunities. It has been gratifying to see such strong market acceptance. The new funding will allow Element Labs the opportunity to continue the Cobra rollout and develop new line extensions.
For more information, please visit www.elementlabs.com.
