The funding from regional venture capitalist Finance Wales includes both equity and debt and follows two previous rounds from the same investor totalling £105,000 since iVision was founded in 2007.

Geoff Jones, managing director of South Wales-based iVision, says, ‘LED lighting is becoming more and more important as businesses, designers and architects realise the savings that can be generated through the technology’s low carbon footprint.’

Jones adds the company will spend the money on ‘improving and increasing our production facility, better marketing, continuing research and development and of course… skilled and motivated people.’

LED lighting, combined with iVision’s technology, uses between 70 and 80 per cent less energy than conventional lighting, according to the company.