Lithuanian startup LightMirror raised €50K from EIT Climate-KIC

Lithuanian startup LightMirror, which develops controllable reflective panels to bring sunlight into hospitals and care homes, reducing heating needs, has raised €50K as a SAFE note from European accelerator EIT Climate-KIC. The deal was closed in January 2022.

LightMirror installs reflective panels at the edges of roofs, which can redirect sunlight into other buildings. That allows for cutting the costs of lighting and heating. The company will use investments for product development, administrative expenses, and participation in several startup events in Europe.

EIT Climate-KIC is co-funded by the European Union. One of its programs is a transition to zero carbon.

LightMirror also received a €63K (originally in Polish zlotys) grant from the Polish Agency for Enterprise Development (focuses on small companies and investment in innovation). With the help of the grant, the startup has already opened an office in Poland and plans to use the money on the installation of LightMirror panels and renovation in one of the public hospitals in Poland.

LightMirror was founded by Dimitri Ionescu, Aleksandra Bulanova, and Anna Zharkova in Vilnius in 2019.