£10 million backing for Edinburgh firm behind revolutionary light-transmitting tech
By harnessing the light spectrum, “LiFi” is said to provide more reliable wireless communications with “unparalleled security”, compared to conventional technologies such as cellular, wi-fi and Bluetooth.
The investment is said to align with the Scottish National Investment Bank’s mission to invest in innovation and industries of the future, while creating high value jobs.
The cash injection will enable the firm to further develop new technologies while opening up additional markets in areas such as mobile phones, tablets, wearables and other connected devices.
PureLiFi chief executive Alistair Banham said: “The Bank’s investment will help us achieve our vision to connect everyone and everything with LiFi. We introduced our technology to the world from Scotland and it is important for us to grow our company and ecosystem from here.
“Our vision is for Scotland to be a recognised centre of excellence for LiFi. In the future customers from around the world will come to us for our innovative technology and leverage the wider photonics ecosystem that already exists here in Scotland.”
Jimmy Williamson, executive director at the Scottish National Investment Bank, added: “The Bank’s investment will support PureLiFi as they look to scale up their operation, allowing them to take the innovative technology to the global market.
“By backing them the Bank is also investing in highly skilled research and development jobs in Scotland and endorsing PureLiFi’s vision to create a centre of excellence of LiFi.”
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