Tvilight reignited

Late last week, Tvilight announced the successful completion of an investment round that resurrects the company out of insolvency. The Groningen-based intelligent street lighting specialist has secured growth capital from its key manufacturer and supplier, A1 Electronics, and its long-term partner in the Asia Pacific, Ecolant Holdings. Financial details have not been disclosed.

A month ago, Tvilight was finalizing this very same funding round, but with a consortium of three investors. At the very last moment, one of them backed out. Because of its cash flow position, the company was obliged to file for insolvency under Dutch law.

The trustee assigned by the court after the bankruptcy received multiple bids to restart Tvilight. In the end, he decided to grant the company’s IP and assets to the consortium led by A1 and Ecolant. Tvilight’s management team is a co-investor in the consortium.