Seonaidh MacDonald takes the helm at mLED

Electronics company mLED has hired Seonaidh MacDonald as chief executive and completed a third round of funding from existing shareholders.

New mLED chief executive Seonaidh MacDonald with the firms chairman Nick Kuenssberg. Picture: Contributed

Jim Bonar, founding director of the Glasgow-based developer of micro light emitting diodes, becomes chief technical officer.

MacDonald, 43, who hails from South Uist, previously worked with IBM, HEROtsc and Babcock International and is co-founder and chairman of Hebridean Power, a renewables company engaged on a £170 million wind farm development.

Nick Kuenssberg, chairman of mLED, said: “We are delighted to be able to bring Seonaidh in to lead the team and anticipate further substantive development.”

The firm has raised £628,000 following the seed funding round of £150,000 in July 2010 and £378,000 in June last year.

Kuenssberg said: “The value of funds raised through this round, typified by £250,000 from the board and £100,000 from the University of Strathclyde in its own spin-out from the Institute of Photonics, demonstrates the confidence existing investors have in the future of the company.”