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Light Blue Optics raises $26 million
Light Blue Optics (LBO), a developer of laser projection technology, has closed a US$26 million (£12.8 million) Series ‘A’ funding round led by Earlybird Venture Capital and Capital-E. Existing investors 3i, which led LBO’s $3.5 million seed-funding round, and NESTA also participated.
3i director Stephen Lowery says that the backing ‘is one of the most significant European Series “A” investments in the last five years’.
The money will enable LBO to accelerate its commercialisation programme towards the high-volume manufacture of systems for deployment in a range of markets including automotive, digital signage and consumer electronics. LBO estimates that the total available market for miniature projection systems will exceed $5 billion by 2012.
Founded in 2004, the Cambridge-based company has developed a laser projection technology that allows full colour, high-quality video images to be projected onto flat or curved surfaces.
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