Light Blue’s technology, which enables any flat surface such as a table to be turned into a touch-sensitive display, is scheduled for release to manufacturers in the fourth quarter of this year.
This fundraising, described as a ‘Series A extension’, was led by German venture capitalist Robert Bosch, with existing investors 3i, Earlybird Venture Capital, Capital-E and NESTA also participating. As part of the deal, Paul Goodridge, the former finance director of wireless telecoms company CSR, joins Light Blue Optics as chief financial officer.
Says Goodridge, ‘It is rare to find an early-stage company with the high-growth profile of [Light Blue Optics]. The company has clear competitive advantage, excellent customer traction and a vast market opportunity.’
Light Blue’s CEO Chris Harris adds that the market for miniature or “pico” projectors is set to exceed US$1 billion within five years. The company’s first product will be a projection engine suitable for integration into a pico projector.