Scottish high-tech startup pureLiFi has announced that they have pulled in 1.5 million pounds in funding, with a valuation at more than 14 million pounds. Investors participating in this round include angel group London and Scottish Investment Partners, with additional funding from the Scottish Investment Bank, which is the investment vehicle of Scottish Enterprise, and Old College Capital, the investment arm of the University of Edinburgh.
The company, which spun out of the University of Edinburgh back in 2012, has developed what it claims is the world’s first wireless “Li-Fi” networking system. Having released their first product, the Li-Flame, in Q4 2014, they will take this new funding and apply it towards developing and rolling out their product roadmap, as well as boosting their marketing and sales efforts. This will likely not be their last funding announcement for the year, as the company says that they will more news coming during the second half of 2015.