Light Blue Optics (LBO), a Cambridge, UK-based developer and supplier of miniature projection systems for use in high volume applications in markets including automotive, digital signage and consumer electronics, has raised US$13m in funding.
The round was led by DFJ Esprit with participation from existing investors Robert Bosch Venture Capital GmbH, Earlybird Venture Capital, Capital-E and NESTA. They were joined by new investors Christie Digital Systems Canada Inc. and WhiteGold Fund Management.
Powered by its proprietary HLP™ technology, LBO’s products are designed to create bright, high-resolution images that are always in focus, work on all manner of surface, and can even respond to touch.
Light Blue Optics’ first product, Light Touch, is an interactive projector that instantly transforms any flat surface into a 10” touch screen.
This funding, which follows previous Series A extension of $15m in July 2009, will enable the company to continue building out market opportunities for its first products – Light Touch™ and Light Work™ – and accelerate product development roadmap for embedded interactive projection devices that are aimed to deliver three times the brightness of a typical tablet screen using only half the power.
Commenting on the funding, Light Blue Optics’ CEO, Dr. Chris Harris said: “This $13 million financing round will enable us to continue to capitalise on the enormous customer interest in our first products Light Touch™ and Light Work™ whilst also driving ahead with our Gen 2 development programme for embedded products that deliver three times the brightness of a typical tablet screen using only half the power.
“These products have the potential to fundamentally change the way we see and interact with the world, bringing virtual touchscreens to every and any surface”, he added.
The company also operates a development facility in Colorado Springs, USA.