Cambridge-based start-up Light Blue Optics has closed a $2.5m seed round, led by venture capitalist 3i.
The firm has laser-based technology it claims will allow an image projector to be squeezed into a matchbox, and eventually a mobile phone.
“The investment will allow us to recruit more people,” Light Blue co-founder Dr Nic Lawrence told Electronics Weekly. “I anticipate the team might double from 15 within the next year.”
Lawrence is looking mostly for engineers. “Asic and FPGA design experts, optical designers and people with real experience of taking things into production,” he said.
A change in premises is also on the cards. “We are hoping to move within the next three month.”
Along with the cash comes 3i ‘entrepreneur-in-residence’ Dr Chris Harris. Formerly president of US firm Plasmon, he is now Light Blue’s interim CEO.
The firm privately showed a colour version to selected parties at a Society for Information Display meeting in June. “We showed film trailers. They looked very nice and were very watchable,” said Lawrence.
His expanded engineering team will turn the demonstrated technology into products for various markets, sold as sub-systems for OEMs to integrate into “applications such as stand alone projectors, games consoles, mobile phones, media players and head-up displays”.
Light Blue Optics