July 20, 2009
VC Firm, Robert Bosch Venture Capital GmbH Invests $15 Million in Series A Extension for Light Blue Optics
Based in Cambridge, England, Light Blue Optics or LBO announced that it had just closed $15 million in series A extension with Robert Bosch Venture Capital GmbH leading the funding. Other investors in this round of funding include 3i Group, Earlybird Venture Capital, Capital E, and NESTA.
LBO is a privately owned company that specializes in laser based miniature projection. LBO stands out from other miniature projection companies because of its patented holographic laser projection technology, which can project high quality images very sharply focused from all distances possible. Furthermore, because the projector is a small size and very efficient, it can be employed in all kinds of different industries, including the automotive and consumer electronics industries. Furthermore, LBOâ€™s technology is very easy to use. The fact that it uses laser technology to project the image, it eliminates the need to have to focus the image, in order to make it sharp and crisp. The laser light itself is a very accurate and sharp to-the-point light that enables for images to be projected in focus from any distance without the need to turn a lens to focus the image every time the projection screen changes distances.
According to Dr. Claus Schmidt, Managing Director of Robert Bosch Venture Capital Gmbh; Robert Bosch mainly invests in companies that have unique technologies that can revolutionize the industry and the technology that LBO is the right candidate and fits all the criteria for investments from Robert Bosch. Dr. Schmidt added that when his team at Robert Bosch Venture Capital GmbH saw what LBO had to offer, everyone was impressed and agreed to go forward with the investment.
Along with this round of extra funding, LBO also announced that it has hired Mr. Paul Goodridge as the companyâ€™s CFO. Mr. Goodridge will be a great asset to the company because he brings over 20 years of experience in financial management and has the track record for impressive company growth at every company he has worked for. Before coming to LBO, Mr. Goodridge worked as the Director of Finances at CSR for over 8 years.
As far as Mr. Goodridge is concerned, finding an early stage company that has the rapid growth rate and the competitive edge that LBO has is a rarity and Mr. Goodridge is delighted to become part of LBOâ€™s management team.
Robert Bosch Venture Capital GmbH is the vc arm of Robert Bosch GmbH, which is a German based privately owned company whoâ€™s net worth is about $60 million. Robert Bosch Venture Capital, GmbH mainly invests in early stage companies that are in the tech industry and have proprietary technologies inline with the product line of Robert Bosch GmbH. Some other companies in Robert Boschâ€™s portfolio include SynapSense, and others.
For more information about LBO, click here.