£10m investment in Edinburgh-based global technology leader, supporting development of ultra high speed data transmission using the light spectrum.
The investment aligns with the Bank's innovation mission and supports the place and net zero missions.
This innovative technology has the potential to disrupt conventional wireless communication globally, directly addressing the growing challenge of internet security, cyber attacks and cyber theft.
The Bank's investment will support the creation of highly skilled technology jobs in Scotland, supporting the tech ecosystem.
The use of the visible light spectrum means that LiFi has a lesser environmental impact with overall smaller footprints and energy requirements compared to traditional methods.
PureLiFi is an Edinburgh-based global technology leader in the development of communications systems and protocols allowing ultra high speed transmission of data using the light spectrum rather than radio waves - LiFi rather than WiFi.
The technology is complementary but highly additive to existing WiFi technology, offering 100x greater data density and 2,600x greater network capacity than WiFi.
The Bank's investment will enable development of an ASIC (application-specific integrated circuit). This will support the adoption of the technology in consumer devices with multiple applications.
''This investment will support pureLiFi as they scale up, allowing them to take this innovative technology to the global market.''Jimmy Williamson
Executive Director - Sustainable Investment, Scottish National Investment Bank
Primary Mission Focus
Alistair Banham, Chief Executive Officer at pureLiFi said:
“The Bank’s investment will help us achieve our vision to connect everyone and everything with pureLiFfi.
“We introduced our technology to the world from Scotland and it is important for us to grow our company here.
“In the future we aim to create a centre for LiFi excellence in Edinburgh and also feed into the wider photonics ecosystem that already exists.”
Jimmy Williamson, Executive Director - Sustainable Investment at Scottish National Investment Bank said:
“Through its patient capital investment the Bank is 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 developments.”
Alignment to the United Nation's Sustainable Development Goals
All of the investments the Bank makes support the UN's Sustainable Development Goals. This investment supports the goals below:
Decent Work and Economic Growth
Creation of highly skilled jobs
Industry, Innovation & Infrastructure
Disruptive technology with global application