Lumus Ltd. today announced closure of a Series B financing round. Motorola Ventures, the venture capital arm of Motorola Inc. led the investment, joined by Jerusalem Global Ventures.
Lumus Ltd. has developed a revolutionary light-guide optical element (LOE) that enables very compact, personal displays in various configurations. Based on an invention by Dr. Yaakov Amitai, co-founder and CTO of Lumus, the LOE facilitates mobile wearable, near-to-eye displays; hand-held screens suitable for a pocket PC or a mobile phone; as well as full performance head-up displays. The former two configurations address the growing need for high-quality, ultra-compact displays for mobile and portable applications. The latter provides for breakthrough solutions for automotive and aerospace applications.
"Lumus faces exciting challenges in the emerging fields of near-to-eye and other personal display configurations, with applications in several important markets," noted Dr. Rami Aharoni, co-founder and CEO of Lumus. "We believe that the company's unique technology and its strong patent portfolio provide a sound base for a range of breakthrough products."
Lumus’ management team comprises Zvi Lapidot, Chairman of the Board, Dr. Rami Aharoni, CEO, and Dr. Yaakov Amitai, CTO.
“We are excited about this strategic investment in Lumus. Its revolutionary optical technology has the ability to transform the way consumers view digital and rich media,” said Matthew I. Growney, managing director of Motorola Ventures. “We expect Lumus’ enabling technology will compliment many of our products, including our compact personal mobile displays, our public safety solutions and our automotive applications.”
"Large, high quality displays are a major issue for small mobile communications and entertainment devices" added Dr. Yoseph Linde, general partner at Jerusalem Global Ventures, who joins the Lumus Board of Directors: “Lumus has the enabling technology to provide the best solution to a host of application with a huge market potential. We are looking forward to a very successful venture. ”