Lumexis Lands $15M For In-Flight Entertainment Systems
Costa Mesa-based Lumexis, a developer of in-flight entertainment and broadband connectivity systems, announced late Monday that it has scored $15M in a private equity funding from Perseus LLC. According to Lumexis, the financing round also included prior investors PAR Capital Management and Zone Ventures, and includes an option for an additional investment of $7.5M. Lumexis said the funding came in conjunction with a "large" order from an un-named customer, which is installing its systems into a fleet of 737-family aircraft. Lumexis claims that the firm's new order came because of its cost, weight, and reliability advantages. The core of the firm's systems is the use of fiber optic cabling.