Cash boost for Scots technology firm

Published on Thursday 18 August 2011 22:10

TECHNOLOGY firm Design LED Products (DLP) has raised a further £639,000 from new and existing investors as it aims to speed up the introduction of its patented lighting technology for flat-screen television sets.

Led by Aim-quoted Braveheart Investment Group, the fresh cash injection follows a 1.1 million investment round completed in January. Siemens' investment arm joined in the first round on the strength of the market potential for DLP's technology.

New investors in this latest round include members of TRI Cap and Highland Venture Capital. A number of Braveheart clients also invested further cash, as did the Scottish Investment Bank's Co-Investment Fund.

Livingston-based DLP's technology allows light emitting diodes to be embedded within printed light-guide devices. This is used to create thin, flexible lighting panels and displays suitable for consumer electronic devices, large area LED lighting and LCD TV backlighting.

Stuart Bain, chief executive of DLP, said the new money would allow the company to accelerate its plans to enter these high-growth markets. The company, was formed in 2004. Geoffrey Thomson, chief executive of Braveheart, said: "DLP has made good progress since the first close of the investment in January and we are delighted to see new shareholders supporting the company."