pureLiFi has announced it has completed a $18M Series B fundraise to provide LiFi technology to mass-market mobile device and lighting manufacturers.
The funding round includes Temasek, an investment company headquartered in Singapore, and the Scottish Investment Bank.
The investment will allow the company to further develop Gigabit LiFi components and make them available in form factors ready for mobile device integration.
The firm announced their move from LiFi systems to components at Mobile World Congress in February where they demonstrated new Gigabit LiFi integrated into a laptop.
Since their announcement pureLiFi have been working with device manufacturers to have LiFi designed into commercial laptops, tablets and mobile devices. Recently pureLiFi announced its collaboration with Getac, the leading manufacturer of rugged tablets and PC’s. They have also worked with leading companies across several industries such as telecommunications company O2 Telefonica, lighting companies Zumtobel and Wipro.
“Device manufacturers are looking for new ways to provide devices with faster, more reliable and secure connectivity. LiFi is the natural next step in the evolution of global wireless communications and pureLiFi is leading the way to provide this technology to the market,” said pureLiFi CEO Alistair Banham.
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“Our investors believe in our team and our strategy to provide LiFi for every light and every device, and we have the products to support mobile device integration of LiFi.”
Global Market Insights projects the LiFi Market will reach $75 Billion by 2023. Demand for wireless connectivity is growing exponentially due to the fast growth in smart living, massive IoT, VR/AR and autonomous systems.
LiFi can serve as the largest pipe for data providing 1000 times the bandwidth of the entire radio spectrum. This latest investment will allow pureLiFi to not only take advantage of this massive market opportunity but lead the advancement of LiFi chipsets for consumer devices, bringing the technology ever closer to the hands of everyone.