LLE closes $13m Series B financing round

Laser Light Engines (LLE), a developer of laser-driven light sources, has announced that it has closed a $13m (£8m) Series B financing round from returning investors Braemar Energy Ventures and Harris and Harris Group and from current strategic partner IMAX, an entertainment technology company.

LLE will use the Series B funds to accelerate the expansion of its product development, engineering and marketing organisations. 

The company will also develop a custom version of its laser engine for use in IMAX digital projection systems, making IMAX the exclusive large-format cinema user for up to three years. 

In addition, LLE will provide outsourced research and development for IMAX, per the agreement announced in July 2010.