Scottish technology company, mLED Limited, has received equity backing of £378,000 in its latest funding round, led by Braveheart Investment Group.
The micro light emitting diode (LED) company based in Glasgow is pioneering new LED technology, which aims to improve the performance of a range of products, from smartphones to medical equipment.
Launched in 2010, mLED received original seed funding of £150,000 via Braveheart and with the latest investment, the company hopes to increase the employee base, enhance its intellectual property and market the new technology to existing customers.
Braveheart, which focuses on young, emerging British companies, secured the £378,000 investment through its network of private clients, the Scottish Enterprise Co-Investment Fund and members of both mLED’s board and technical advisory council.
Geoffrey Thomson, chief executive of Braveheart Investment Group plc, is happy to have mLED among its client base of growing UK businesses: “We are pleased to support this company which has pioneering technology and an impressive management team.”