CAMBRIDGE, England--(BUSINESS WIRE)--Light Blue Optics (LBO), the industry-leading developer and supplier of laser-based pico projection systems, today announced closing of a US$15 million Series ‘A’ extension. Robert Bosch Venture Capital GmbH (RBVC) led the extension, with existing investors 3i Group plc, Earlybird Venture Capital, Capital-E and NESTA also participating. The money will enable LBO to accelerate its product development roadmap across multiple markets including automotive, industrial and consumer electronics. The Company’s first product – a projection engine suitable for integration into an accessory pico projector – is scheduled for release to OEM customers in Q4 09.

Light Blue Optics’ holographic laser projection technology delivers vibrant colours and focus-free operation, whilst maintaining the Class 1 laser safety classification essential to consumer electronics applications. Uniquely, the projection system can be touch-enabled, meaning any flat surface such as a table can be instantly transformed into a touch-sensitive display, eliminating the need for a touch screen and allowing users to interact with multi-media content in new and exciting ways.

Dr. Claus Schmidt, Managing Director of Robert Bosch Venture Capital said; “RBVC has a remit to invest in technologies of ground-breaking strategic importance and LBO has all the characteristics of a great investment. The Company impressed us with their potential to create and capture a new product category of mobile, energy-efficient, interactive displays. Their proprietary technology will open up entirely new applications and revenue opportunities in markets such as consumer electronics and we are pleased to join the existing investors in supporting this exciting venture.”

LBO also announced today the hire of Paul Goodridge as Chief Financial Officer. Paul brings with him 20 years of financial management experience and an impressive track record for company growth. Prior to joining LBO, Paul was Director of Finance at CSR plc for 8 years, managing the company’s migration from being venture-backed, through to its floatation on the London Stock Exchange and subsequent promotion to the FTSE 250.

Light Blue Optics’ CFO, Paul Goodridge said; “It’s rare to find an early-stage company with the high-growth profile of LBO. The Company has clear competitive advantage, excellent customer traction and a vast market opportunity. I am delighted to become part of the LBO team at this exciting time, and look forward to working with all our stakeholders to build significant value.”

Light Blue Optics’ CEO, Dr. Chris Harris added; “This $15 million financing round will enable LBO to accelerate its product development roadmap and address a wider range of applications. It’s a very exciting opportunity, not least in the consumer electronics space where the market for pico projectors has been forecast to exceed US$1 billion within 5 years. We now have the world-beating technology, experienced team and strong investor syndicate in place to realise that opportunity and become the world’s leading supplier of miniature projection systems.”

Notes to Editors

Light Blue Optics (www.lightblueoptics.com)

Light Blue Optics (LBO) is a privately-owned developer and supplier of miniature projection systems.

Based on the Company’s patented holographic laser projection technology, LBO systems deliver high-quality video images that remain in focus at all distances. Their efficiency, small form factor, robustness and cost advantages make them ideally suited for deployment in multiple markets including automotive, industrial and consumer electronics.

LBO is funded by a group of investors including 3i Group plc., Robert Bosch Venture Capital GmbH, Earlybird Venture Capital and Capital-E.

Robert Bosch Venture Capital GmbH (www.rbvc.com)

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture company of the Robert Bosch GmbH, one of the largest private companies worldwide with more than €45.1 billion ($60 billion) of sales. Founded in 1886, Bosch is a leading global supplier of automotive, industrial technology, consumer goods and building technology.

RBVC invests in start-up companies either directly or via venture capital funds on a worldwide basis. Investment focus: Technology companies along the line of Bosch current and future business. RBVC provides capital for minority stakes in start-ups from early to expansion stage.

For full editors' notes, please visit http://www.lightblueoptics.com/press_releases.htm

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