mLED secures further equity backing

RNS Number : 2075G

Braveheart Investment Group plc

27 June 2012

 



27 June 2012

Braveheart Investment Group plc ('Braveheart' or 'the Group')

mLED secures further equity backing in new funding round

Braveheart Investment Group plc (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations, is pleased to announce a further investment in mLED Limited, the micro light emitting diode company.

Based in Glasgow, mLED is a leader in microLED technology, with product applications identified in a number of key growth markets. A spin-out from the Institute of Photonics of the University of Strathclyde, the company was launched in June 2010 with £150,000 seed funding. In the latest funding round, led by Braveheart, mLED has secured an additional £378,000 from Braveheart's established network of private clients, the Scottish Enterprise Co-Investment Fund and members of both mLED's board and technical advisory council.

The additional equity funding will enable the company to increase its personnel,  enhance its intellectual property and market its proprietary technology to initial customers. 

Geoffrey Thomson, Chief Executive of Braveheart Investment Group plc, said: "We are pleased to support this company which has pioneering technology and an impressive management team."

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive [e-mail]

Tel: [phone]

Seymour Pierce Limited (Nominated Adviser)

Freddy Crossley David Banks (Corporate Broking)

Tel: [phone]

Merchant Securities Limited (Joint Broker)

Lindsay Mair Catherine Miles

Tel: [phone]

Media enquiries:

Allerton Communications

Peter Curtain [e-mail]

Tel: [phone]

Notes to Editors

Braveheart

Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building portfolios for business angels, high net worth individuals, family offices and public sector organisations. Braveheart was founded in 1997 by a small group of investors to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fifteen years on, Braveheart is a public company with a demonstrable track record in SME investing, an established client base and various funds under management.  The Group has offices in Perth, London, Yorkshire, Jersey, and the Isle of Man, with franchises in Dubai and Manchester.

www.braveheartinvestmentgroup.co.uk

mLED Limited

mLED is introducing a new generation of Light Emitting Diode (LED) technology - the ultra-high brightness micro-emitter array (microLED) - that is opening up major new segments within the nascent embedded pico projector market. Pico projectors can be found in a broad array of portable devices from bar code scanners to smartphones. mLED's breakthrough harnesses pioneering developments in the area of programmable micro-pixellated LED technology, bringing an order of magnitude improvement in light intensity over current micro-display approaches.  mLED is developing a roadmap of products aimed at a range of high volume embedded applications and is already commercially engaged with some of the world's leading system integrators.

The proprietary microLED technology represents a significant scientific breakthrough for the industry. The platform technology was developed over a 10 year period at the Institute of Photonics at the University of Strathclyde, where over £7m was invested in research leading to the core patent. mLED is the spin out vehicle that is exclusively exploiting this technology. Since inception, mLED has filed further related patents and has built significant application expertise.

www.mled-ltd.com

 

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