EDINBURGH, Scotland--(BUSINESS WIRE)--pureLiFi, the leading LiFi technology company today announces it has completed a $18M Series B fundraise to provide LiFi technology to mass-market mobile device and lighting manufacturers. The funding round includes Temasek, an investment company headquartered in Singapore, and the Scottish Investment Bank. The investment will allow the company to further develop Gigabit LiFi components and make them available in form factors ready for mobile device integration.
The firm announced their move from LiFi systems to components at Mobile World Congress in February where they demonstrated new Gigabit LiFi integrated into a laptop. Since their announcement pureLiFi have been working with device manufacturers to have LiFi designed into commercial laptops, tablets and mobile devices. Recently pureLiFi announced its collaboration with Getac, the leading manufacturer of rugged tablets and PC’s. They have also worked with leading companies across several industries such as telecommunications company O2 Telefonica, lighting companies Zumtobel and Wipro.
“Device manufacturers are looking for new ways to provide devices with faster, more reliable and secure connectivity. LiFi is the natural next step in the evolution of global wireless communications and pureLiFi is leading the way to provide this technology to the market.” Says pureLiFi CEO Alistair Banham. "Our investors believe in our team and our strategy to provide LiFi for every light and every device, and we have the products to support mobile device integration of LiFi.”
LiFi enables the transfer of the internet through light without the use of radio frequencies used by other technologies such as Wi-Fi and Cellular. By using the light, spectrum LiFi can unleash faster, more reliable and more secure wireless data communication. “After more than a decade of persistent and systematic development of key technologies for wireless communications using light and the demonstration of the almost unlimited capabilities of LiFi for secure gigabit wireless connectivity for many use cases such as machine-to-machine communication, we are now at the precipice of a watershed moment for LiFi. I am absolutely delighted that we are now empowered to get the LiFi mass-market avalanche in motion!” Says Professor Harald Haas, co-founder and CSO of pureLiFi.
LiFi has increasingly gathered industry support as the market has identified the technologies advantages. Currently, the technology is being globally standardised under 802.11, which is on schedule to be fully ratified in early 2021. In June of this year, a global Light Communications Alliance (LCA) was formed to develop new use cases, educate the market and advocate the use of standards for this emerging industry. The organisation was founded by leading industry brands such as Nokia and Liberty Global along with LiFi providers, including pureLiFi.
Global Market Insights projects the LiFi Market will reach $75 Billion by 2023. Demand for wireless connectivity is growing exponentially due to the fast growth in smart living, massive IoT, VR/AR and autonomous systems. LiFi can serve as the largest pipe for data providing 1000 times the bandwidth of the entire radio spectrum. This latest investment will allow pureLiFi to not only take advantage of this massive market opportunity but lead the advancement of LiFi chipsets for consumer devices, bringing the technology ever closer to the hands of everyone.
--ENDS
Photography and other media can be found here: https://www.dropbox.com/pureLIFi-Investment-News
About pureLiFi
pureLiFi is a Light communication company that was founded by Prof. Haas and Dr Afgani in 2012 as a spin-out of the University of Edinburgh to create OEM components, including LiFi transmitters and receivers for mobile device and lighting manufacturers.
pureLiFi is a world-leading LiFi company which formed in response to the exponential growth in global demand for wireless bandwidth. pureLiFi has grown its international customer base around the world with international partnerships in place with organisations such as Cisco, Wipro, Zumtobel, O2 Telefonica and Getac.
Reference:
Global Marketing Insights:
https://www.gminsights.com/industry-analysis/lifi-market https://smtnet.com/library/files/upload/Li-Fi%20Market%20PDF.pdf.pdf
About the Scottish Investment Bank
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s national economic agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise (HIE). SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital and loan funding.
SIB manages a suite of co-investment funds including the Scottish Co-Investment Fund, the Scottish Venture Fund and the Energy Investment Fund on behalf of the Scottish Government. SIB is also an investor in Epidarex Capital’s Life Sciences Fund and is a participant in the Scottish-European Growth Co-Investment Programme with funding secured from the Scottish Government’s Scottish Growth Scheme alongside the European Investment Fund.
SIB also provides funding into LendingCrowd, Scotland’s marketplace lender providing loans to SMEs, and Maven’s Regional Buyout Fund (MBO) that offers financial support for management buyouts (MBOs) and helps existing management teams acquire businesses from their owners so they can continue to flourish.
SIB’s team of financial readiness specialists help companies prepare for new investment and access appropriate finance.
