Light Blue seals $15M extension to first round

Funding

Light Blue Optics, a developer of laser-based pico projection systems, has announced a $15 million second closing of its first round.

Robert Bosch Venture Capital led the investment with existing investors 3i Group plc, Earlybird Venture Capital, Capital-E and NESTA also participating. The money will enable Light Blue to accelerate its product development across various markets, including automotive, industrial and consumer electronics. The company’s first product, a projection engine suitable for integration into an accessory pico projector, is scheduled for release to OEM customers in the fourth quarter of 2009.

Light Blue Optics says its holographic laser projection technology delivers vibrant colours and focus-free operation, while maintaining the Class 1 laser safety classification required for consumer electronics applications. 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 dedicated touch screen, and allowing users to interact with multimedia content in new ways.

Claus Schmidt, Managing Director of Robert Bosch Venture Capital, said the fund has a remit to invest in technologies of ground-breaking strategic importance. “The company impressed us with [its] potential to create and capture a new product category of mobile, energy-efficient, interactive displays. The proprietary technology will open up entirely new applications and revenue opportunities in markets such as consumer electronics and we are pleased to join the existing investors in supporting this exciting venture.”