Pure Lifi raises $18 million to bring light power to mobiles
Let there be light: the Pure Li-fi team
University spin-out Pure Lifi has raised $18 million to bring the power of light to mobile devices.
The Edinburgh-based firm wants to see light used to drive communications systems and its investors in this Series B round include Temasek, an investment company from Singapore, and the Scottish Investment Bank.
The market for LiFi technology is estimated to reach $75 billion in the next five years.
It has had a change of focus from developing systems to manufacturing LiFi components that can be installed in devices. At Mobile World Congress in February, the company demonstrated how its new Gigabit LiFi integrates into a laptop; tablets and mobile phones.
Pure Lifi has developed collaborations with manufacturer Getac, telecommunications company O2 Telefonica and lighting companies Zumtobel and Wipro.
CEO Alistair Banham said: “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.
“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.”
Co-founder Professor Harald Haas said the new funding will fuel its growth: “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.”