The LED company Illumitex, which recently shifted its focus to AI-driven visualization and augmented intelligence for CEA, is now out of business.
Back at the beginning of 2020, the company announced the formation of FarmVisionAI, terminating all the company’s LED operations to accelerate the new business. "With installations ramping, we are seeing that FarmVisionAI is more valuable to farmers than LED lighting and we are refocusing our resources to accelerate deployments," said Jeff Bisberg, CEO, in a press release dated Feb. 19, 2020.
Considering the fierce competition in the lighting sector of horticulture, the company allegedly found a more profitable entry point in focusing on AI-driven cultivation – which admittedly is regarded as a sort of a fad.
Yet, it seemed as if such an effort didn’t pay off as expected, as on Dec. 21, 2020, the company has filed for an assignment for the benefit of creditors under Delaware law, marking the beginning of its ‘out of business’ status. The company's websites cannot be reached.