The investment arm of the University has participated in a fundraising round for spin-out technology company, pureLiFi.
Old College Capital invested £250,000 in pureLiFi as part of a £1.5 million co-investment with London & Scottish Investment Partners and the Scottish Investment Bank.
The company is developing wireless communication products based on visible light communication technology, or Li-Fi, that was developed by Professor Harald Haas, Chair of Mobile Communications at the University.
Li-Fi technology will in future enable faster, more reliable internet connections, even when the demand for data usage has outgrown the available supply from existing technologies.
Li-Fi technology transfers data using the visible light and infrared spectra, which are plentiful, free and unlicensed.
The visible light bandwidth is more than 10,000 larger than that currently used by other wireless communication systems.
The investment will support the development and roll-out of pureLiFi’s product roadmap and help grow the marketing and sales function.
Old College Capital is committed to supporting exciting spin-out and start-up companies like pureLiFi, which are emerging from the University, to support their growth and development into global market leaders in partnership with other investors.
Further development of the technology continues within the University’s Li-Fi R&D Centre, which seeks to accelerate the development of Li-Fi by creating a pipeline for innovative ideas, technologies, products and partnerships.
The global Li-Fi industry is estimated to be worth £5 billion by 2018.
pureLiFi is widely recognised as one of the world’s most exciting new spin-out companies and the University is delighted that the company is now translating the results of the world-class research undertaken by Professor Haas and his research group into real and high-value products and solutions.