Light Blue Optics (United Kingdom) - Oct 2007

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01 October 2007

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Earlybird Venture Capital and Capital-E have led a $26m series-A funding round for Light Blue Optics (LBO), a miniature projection technology company. Germany-based Earlybird and Belgium-based Capital-E join existing investors 3i and NESTA, which also participated in the round. The series-A funding follows a 3i-led $2.5m injection of seed funding in July 2006 (14 August 2006, page 22). The new capital comes on the back of LBO’s release of engineering samples to key customers and strategic development partners from July 2007. It is understood that LBO is already working with French aerospace group Thales on the development of displays for aircraft cockpits.

Company

Founded in 2004, Cambridge-based LBO has developed an innovative holographic laser projection technology that allows full colour, high-quality video images to be projected onto flat or curved surfaces. LBO’s novel approach to projection delivers a unique combination of enabling features including 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. The money will enable LBO to accelerate its product development and commercialisation programme towards the high-volume manufacture of miniature projection systems 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 $5bn by 2012.

People

Wolfgang Seibold led the deal for Earlybird, alongside Rudi Severijns for E-Partner and Stephen Lowery for 3i. Chris Harris is the CEO of LBO.

Sourced from: UK & Ireland unquote" 355 (Oct 2007)