pureLiFi Raises $18M to Deliver LiFi Components
Nov 14, 2019
pureLiFi 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, a manufacturer of rugged tablets and PC’s. They have also worked with companies across several industries such as telecommunications company O2 Telefonica, lighting companies Zumtobel and Wipro.
LiFi enables the transfer of the internet through light without the use of radio frequencies used by other technologies such as Wi-Fi and Cellular. By using the light, spectrum LiFi can unleash faster, more reliable and more secure wireless data communication.
LiFi has increasingly gathered industry support as the market has identified the technologies advantages. Currently, the technology is being globally standardised under 802.11, which is on schedule to be fully ratified in early 2021. In June of this year, a global Light Communications Alliance (LCA) was formed to develop new use cases, educate the market and advocate the use of standards for this emerging industry. The organisation was founded by leading industry brands such as Nokia and Liberty Global along with LiFi providers, including pureLiFi.
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.
