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Light Blue Raises $26M

Photonics.com
Oct 2007
CAMBRIDGE, England, Oct. 2, 2007 -- Light Blue Optics (LBO), a UK developer of holographic laser projection technology, announced it has closed a $26 million Series A funding round led by Earlybird Venture Capital of Germany and Capital E, an early-stage venture fund for microelectronics and nanoelectronics-related startups in Europe. Seed investors 3i plc and the UK National Endowment for Science, Technology and the Arts also participated.

News of the latest round follows LBO’s release of engineering samples to key customers and strategic development partners from July 2007. Light Blue Optics CEO Chris Harris said, “The closure of this funding round will allow us to accelerate our product development and commercialization program toward 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.”

Founded in 2004, LBO has developed an innovative holographic laser projection technology that allows full-color, high-quality video images to be projected onto flat or curved surfaces.  It said it that the total available market for miniature projection systems will exceed $5 billion by 2012.

The company announced a joint agreement in May to develop display products with aerospace and defense contractor Thales Group of Neuilly-Sur-Seine, France.

For more information, visit: www.lightblueoptics.com


GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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