Edinburgh university spin-out pure LiFi has completed a key financing round led by Singapore-based Temasek.
The funding will support the development and commercialization of its proprietary technology that offers the potential to make LiFi significantly faster than WiFi.
Harald Haas, founder of the company and the “father of LiFi”, said: “I am absolutely delighted that this significant step has been achieved towards unlocking the grand LiFi vision”.
LiFi uses the visible light spectrum instead of radio frequencies to deliver high-speed wireless data communication and internet access. pureLiFi has worked with industry leaders such as Cisco and Lucibel to provide LiFi networks that offer substantially greater security, safety and data densities than WiFi, ultimately enhancing the mobile experience for the user.
Since its last fundraising in December 2014, the company has completed the development and production of LiFi-X, the world’s first mobile LiFi dongle, which represents a key step towards mass-market adoption.
The company has now raised over $10 million (£7.5m) , with the new funding led by Temasek, a Singapore invstment company, and including London & Scottish Investment Partners
Harald Burchardt, the chief operating officer of pureLiFi and in charge of the company’s fundraising process, said he was “truly excited about the strong partnership with Temasek and other strategic partners in our journey forward”.
The company was advised by Quest Corporate, the Edinburgh-based advisory business, and Dickson Minto.
Professor Russel Griggs, chairman of pureLiFi said: “This funding gives the company the resources required to rapidly scale over the next few years.”
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