July 21, 2009--Light Blue Optics (LBO; Cambridge, England), developer and supplier of laser-based pico projection systems, announced closing of a $15 million Series 'A' extension to enable LBO to accelerate its product development roadmap across multiple markets including automotive, industrial, and consumer electronics (see "Light Blue Optics demos smaller, brighter mini projector at CES 09"). LBO's first product--a projection engine suitable for integration into an accessory pico projector--is scheduled for release to OEM customers in Q4 09.
Robert Bosch Venture Capital GmbH (RBVC) led the extension, with existing investors 3i Group plc, Earlybird Venture Capital, Capital-E and NESTA also participating.
LBO says its holographic laser projection technology delivers vibrant colors and focus-free operation, while maintaining the Class 1 laser safety classification essential to consumer electronics applications. Uniquely, the projection system can be touch-enabled, meaning any flat surface such as a table can be instantly transformed into a touch-sensitive display, eliminating the need for a touch screen and allowing users to interact with multimedia content in new and exciting ways.
LBO's CEO, Chris Harris, said, "This $15 million financing round will enable LBO to accelerate its product development roadmap and address a wider range of applications. It's a very exciting opportunity, not least in the consumer electronics space where the market for pico projectors has been forecast to exceed US$1 billion within 5 years. We now have the world-beating technology, experienced team and strong investor syndicate in place to realise that opportunity and become the world's leading supplier of miniature projection systems."
For more information, go to www.lightblueoptics.com.
--Posted by Gail Overton, gailo@pennwell.com; www.laserfocusworld.com.
