National Investment Bank backs pureLiFi with £10m

Jimmy Williamson, executive director at the Scottish National Investment Bank, and pureLiFi CEO Alistair Banham

Edinburgh-based wireless communications firm pureLiFi will target a global roll out of its revolutionary technology after securing £10 million in backing from the Scottish National Investment Bank.

pureLiFi uses light to transmit data rather than conventional radio frequency systems such as WiFi and 5G.

By harnessing the light spectrum, LiFi is able to provide more reliable wireless communications with better security.

“The investment aligns with the bank’s mission to invest in innovation and industries of the future, creating high value jobs in world class businesses …” said the bank.

“The bank’s investment will enable pureLiFi to further develop new technologies while opening up additional markets in areas such as mobile phones, tablets, wearables and other connected devices.

“LiFi is complementary to WiFi technology, offering transformationally improved performance.

“Additionally, when WiFi and LiFi work together the users across both technologies experience greatly improved connectivity, as LiFi also makes WiFi better.

“The number of connected devices in the average home has more than doubled in the past two years.

“As more devices connect to struggling home WiFi networks, bandwidth is split, interference increases and response times slow for everyone.

“LiFi solves the biggest challenges faced by current wireless communications technologies by decreasing congestion, improving security and quality of connection.”

pureLiFi CEO Alistair Banham said: “The bank’s investment will help us achieve our vision to connect everyone and everything with LiFi.

“We introduced our technology to the world from Scotland and it is important for us to grow our company and ecosystem from here.

“Our vision is for Scotland to be a recognised centre of excellence for LiFi.

“In the future customers from around the world will come to us for our innovative technology and leverage the wider photonics ecosystem that already exists here in Scotland.”

Scottish National Investment Bank executive director Jimmy Williamson said: “The bank’s investment will support pureLiFi as they look to scale up their operation, allowing them to take the innovative technology to the global market.

“By backing them the Bank is also investing in highly skilled research and development jobs in Scotland and endorsing pureLiFi’s vision to create a centre of excellence of LiFi.

“We are excited to provide them with the growth capital that will help them reach the next stage in their development.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.