Advanced lighting solutions supplier Airstar has received a €1M capital injection to help accelerate development.
Airstar, a world leader in advanced lighting solutions for the event, cinema, broadcast, architectural design, construction, rescue and safety industries, has received a €1M capital injection to help accelerate development.
Handled by Audacia, the new funding will allow Airstar to finance entirely its needs in research in development, while strengthening its position as a world leader in the manufacture of lighting balloons and at the same time offering new breakaway opportunities to the industry.
Benoit Beylier, CEO of Airstar, comments: “Over the past 20 years, we have launched many significant innovations in illuminating balloons, and we are committed to continuing with this trend. Not only is this capital increase essential to the development of our brand, it is also a strong signal that we are sending out to the vertical markets we’re involved in.”
Airstar’s R&D agenda will be a vigorous one, Beylier confirming that: “these funds will immediately be allocated to the financing of five major projects which will be unveiled over the next 24 months.”
With 120 employees, the company has enjoyed a constant growth of its turnover in recent years, increasing from €14 to €15 million in the last fiscal year. Airstar, which celebrates its 20th anniversary in 2014, is currently distributed in more than 60 countries, with international markets responsible for 75% of its turnover.