Design LED Products closes second funding round

AIM-listed Braveheart Investment Group's portfolio company Design LED Products (DLP) has closed a second funding round worth £639,000 following a £1.1 million investment round completed in January this year.

The business attracted new investors in the second close from TRI Cap and Highland Venture Capital, while Scottish Enterprise and a number of Braveheart clients made further investments.

Geoffrey Thomson, chief executive of Braveheart, which specialises in growth capital investments for business angels, high net worth individuals and family offices, says, ‘DLP has made good progress since the first close of the investment in January 2011 and we are delighted to see new shareholders supporting the company.’

The company will use the additional funding to accelerate its plans to enter the high growth lighting and LCD TV backlighting market.

Scotland-based DLP was started in 2004 and has developed and patented technology to embed light emitting diodes (LEDs) within printed light guide devices. This enables thin, flexible, high efficiency light panels and displays for consumer electronic devices.

DLP CEO Stuart Bain adds, ‘We are pleased to conclude this follow on funding and to aggressively pursuing market entry with our priority applications.’

Braveheart is based in Perth, Scotland, and invests in young, unlisted companies.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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