The funding will support the development and commercialisation of the firm’s technology which uses modulated LED light to provide wireless communications, with the potential to be faster than current WiFi technology.
pureLiFi has worked with big industry names including 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.
Founder of pureLiFi Harald Haas said: “I am absolutely delighted that this significant step for pureLiFi has been achieved towards unlocking the grand LiFi vision”.
The firm secured its first round of funding in December 2014, which allowed it to complete the development and production of the LiFi-X product- world’s first mobile LiFi dongle.
With the support of existing investors, the company has now raised over US$10 million till date, with the most recent funding led by Temasek.
Harald Burchardt, the COO of pureLiFi, said “I am extremely proud that pureLiFi and our team have managed to deliver the technological and strategic basis for LiFi, and am 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 corporate finance advisory business, and Dickson Minto, during this fundraising process.
Marcus Noble of Quest said “We are delighted to have supported the company’s fundraising efforts and are sure that the quality of such investors as Temasek and London & Scottish Investment Partners (LSIP) will be a great asset to the business going forward.”
Professor Russel Griggs OBE, chairman of pureLiFi said “This funding, which exceeds what we set out to secure, gives the company the resources required to rapidly scale over the next few years.”
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