Xenio Systems Completes Spin-off from Bridgelux with 59 Patents and Applications, Venture Partnerships and New Leadership
As a standalone company, Xenio possesses the technology IP, talent and initial partner and distribution channels to address the growing market for indoor commercial IoT
SAN FRANCISCO, CALIF. — October 6, 2016 — Xenio Systems, the technology platform innovator that brings together commercial smart lighting and the Internet of Things (IoT), today announced it has completed its spin-off from Bridgelux, a leading developer and manufacturer of LED lighting technologies. As part of the spin-off, DCM Ventures, El Dorado Ventures and VantagePoint Capital Partners now have a stake in Xenio.
Leading Xenio Systems as CEO is IoT industry veteran Reza Raji. Raji was the founder and CEO of iControl Networks (recently acquired by Comcast), a venture-backed Silicon Valley startup, which delivered the industry’s first mass-market consumer IoT platform. Prior to that, he led business development at Echelon, a leading controls, energy and lighting automation company.
Xenio continues to have an important strategic relationship with Bridgelux. Bridgelux will offer Xenio products to its customers through its worldwide sales force and an ecosystem of third-party distributors. Bridgelux technology is broadly installed in leading global retailers’ stores and other locations including grocery stores and offices, which are also targeted by Xenio. The companies are working together on Xenio Point™, Xenio Dash™ and Xenio Link™.
The timing for the Xenio commercial IoT platform coincides with an industry transition to new energy-efficiency standards using LED lights that could save businesses and consumers about $12.5 billion a year in the U.S. alone, according to the U.S. Department of Energy.
Xenio’s end-to-end technology extends from the LED lighting fixtures to the cloud. It combines embedded intelligence and networking that make lighting better, and also delivers unique capabilities that address real challenges in commercial IoT applications. Together with a growing ecosystem of partners, Xenio is exploiting this new, multi-purpose infrastructure to help large enterprises improve in-building experiences, grow revenue, reduce costs, and manage risk.
“Commercial IoT concepts need to be applied to solve large, real problems for retailers and other industry sectors. At Xenio we’re integrating several disparate technologies to create new, game-changing capabilities. Our initial focus will concentrate on helping retailers improve customers’ in-store experience to drive revenue increases and other key benefits. I am very proud and excited to be a part of Xenio’s team as we pursue a massive market opportunity in front of us,” says Reza Raji, Xenio Systems CEO.
Xenio’s initial go-to-market strategy emphasis is focused squarely on the delivery of its Better Beacons™ technology solutions and IoT as a service for brick-and-mortar retailers fighting for survival as e-commerce giants such as Amazon continue to gain market share. Beacon-triggered marketing campaigns will drive about $44 billion in retail sales in 2016, according to research firm BI Intelligence. The potential economic impact of commercial IoT in retail environments could range from $410 billion to $1.16 trillion globally by 2025, according to a recent McKinsey Global Institute analysis.
ABOUT XENIO SYSTEMS
Xenio Systems is a San Francisco-based technology innovator that brings together smart LED lighting and the Internet of Things (IoT) for indoor commercial spaces. Its Xenio® end-to-end hardware and software platform enables IoT as a service for both smart lighting and “beyond lighting” commercial IoT applications, and provides the most cost-effective, scalable way to exploit IoT to increase revenue, lower costs and reduce risks. Vertical markets served include retail and grocery, hospitality and entertainment, travel hubs, offices and healthcare. For more information, visit: http://www.xeniosystems.com
Chris Knight at Divino Group
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