Bridgelux Rustles Up Another $20M; Prepping for an IPO?

LED lighting chipmaker Bridgelux has raised another $20.7 million, according to a filing with the Securities and Exchange Commission.

The California company has now raised a total of $155 million from venture backers, including a $60 million round last March, according to Thomson Reuters, publisher of this blog.

Tuesday’s filing does not state what the money will be used for. Most likely, Bridgelux will use it to expand its Livermore, Calif.-based plant, which the company unveiled last year and hopes will account for a significant share of its production.

The money also begs the question of whether Bridgelux is preparing for an IPO. Chief Executive Bill Watkins has said it could happen this year. Perhaps that means sooner rather than later.

According to the filing, Bridgelux has another $26,243 of securities to sell. The offering includes convertible notes and warrants to purchase shares. The document did not specify the investor(s).

Bridgelux’s past investors include VantagePoint Venture Partners, Chrysalix Energy, DCM, El Dorado Ventures, Harris & Harris and VentureTech Alliance.