Laser Light Engines, Inc. (LLE), a SALEM, N.H.based designer, developer and manufacturer of OEM laser-driven light sources, has closed a $13m Series B financing round.
Investors include existing backers Braemar Energy Ventures and Harris & Harris Group Inc., (Nasdaq: TINY) and strategic partner IMAX Corporation, (Nasdaq: IMAX) (TSX: IMX).
The company will use the funds to accelerate product development, as well as expand engineering and marketing organizations. LLE intends to commercialize its RGB (Red/Green/Blue) laser technology, which can deliver higher brightness than lamps because all of the laser light comes from narrow beams. Initially targeted for Digital Cinema projector use, LLE’s light source will be available for other entertainment industry applications such as theme park attractions, Rental/Staging and digital signage.
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 previously announced in July, 2010.