Steel Light is a startup that’s been building glass lights in New York City for about a year now.
Now they’re launching a second round of funding to get the first up and running in New Zealand.
The funding is being led by the New Zealand Economic Development Corporation (NZEDC), which has been an enthusiastic supporter of the company’s work.
The company is using the funds to build a factory to build the first generation of its steel light.
That factory will produce a couple of dozen steel lights a year, the company says, and will also be a supplier of LED bulbs for New Zealand businesses.
“The goal is to have the company in operation by 2020,” the company wrote on its website.
“Our manufacturing partners in New Mexico, the US, Australia, Canada and Japan have already received the first batch of the first steel light.”
The first wave of the investment was announced in January, and the company has been working hard to get things moving.
In February, Steel Light partnered with a local company called the New York State Industrial Development Corp. (NYSDIDC), who provided them with $50,000 in funding.
The next month, the funding was extended for another month and then was extended again, to January 31, 2021.
“We’re now looking at putting in some funding from the New Jersey Economic Development Authority, the New Mexico Economic Development Agency and the New Hampshire Economic Development Corp.,” Steel Light cofounder John Rabe told Recode.
“So we’re definitely moving in the right direction.”
“We’re going to build out our operations from New York to New Jersey in a relatively short time,” Rabe said.
“I don’t want to put too much emphasis on the number of hours or how many hours we’ll have to do the lighting, but we will be building out our factory and our lighting and building out the manufacturing facilities.”
Rabe said that as of this week, he’s hoping to get all of the orders for the first two years of production.
That would put the company on track to meet its goal of a few thousand steel lights per year.
The company is also working on the next phase of the project, but that’s still a few years away.
“Our goal is just to get those first couple of thousand steel light production units out there in time for Christmas,” Rabb said.
Rabe also said that the company plans to use the money to fund a range of other projects in the area.
“There’s a lot of good stuff we can do for the community in New Jersey,” he said.
As a result of the funding, Steel Lights will be able to hire more employees and build out facilities in New Hampshire.
“It’s a great investment for us, and we’re going into a very challenging time right now for New Jersey, but I think it’s something we’re very excited about,” Rabi said.