LONDON – Light Blue Optics Ltd., a startup company developing a color projector suitable for inclusion in mobile phones and other portable equipment, has announced it has raised $13 million in funding. The money will be used to continue building out market opportunities for its current products and accelerate development of embedded interactive projection devices, the company said. This funding follows the company's Series A extension of $15 million in July 2009.
The round was led by DFJ Esprit. Existing investors Robert Bosch Venture Capital GmbH, Earlybird Venture Capital, Capital-E and NESTA also participated and were joined by new investors Christie Digital Systems Canada Inc. and WhiteGold Fund Management.
Light Blue Optics first reference product, Light Touch, is an interactive projector that instantly transforms any flat surface into a 10-inch touch screen, allowing users to interact with multimedia content. LBO is advocating its use in ordering systems for restaurants, bars and hotels; wipe-clean displays for healthcare environments; and spill-proof virtual touchscreens in the kitchen.
Ekaterina Yakovenko, managing director and head of the private equity division at WhiteGold said: "Light Blue Optics presented us with an opportunity to invest in one of the most exciting display technologies of recent times." Light Blue Optics' CEO, Chris Harris said the company's second-generation product would deliver three times the brightness of a typical tablet screen using only half the power.