Cambridge-based holographic laser projection technology company Light Blue Optics (LBO), has closed a £13.8m Series ‘A’ funding round, led by European venture capital companies Earlybird Venture Capital and Capital-E.
This latest round of funding follows the release of engineering samples to key customers and strategic development partners which started in July 2007. LBO said the money will be used to accelerate its product development and commercialisation programme towards the high-volume manufacture of miniature projection systems. These are intended for deployment in a range of markets including automotive, digital signage and consumer electronics.
The company estimates that the total available market for miniature projection systems will exceed £2.65bn by 2012.
Founded in 2004, LBO has developed a holographic laser projection technology that allows full colour, high-quality video images to be projected onto flat or curved surfaces. The company’s approach to projection includes an ultra-wide throw angle, in-built laser speckle reduction, infinite focus, low power consumption, no moving parts and a robust design that naturally lends itself to miniaturisation and low cost manufacture.
Light Blue Optics’ CEO, Dr Chris Harris said: ‘The closure of this funding round will allow us to accelerate our product development and commercialisation programme towards the high-volume manufacture of miniature projection systems. LBO has world-beating technology, excellent customer traction across a wide range of markets, a strong investor syndicate and is ideally placed to become the world’s leading supplier of miniature projection systems.’