23 Aug 2011

Braveheart Investment Group has closed a second funding round worth over $1 million (￡639,000) for LCD backlighting specialist Design LED Products (DLP), based in Livingston, UK.

Braveheart raised cash from several of its clients, with the Scottish Co-investment Fund, Highland Venture Capital and Tweed Renaissance Investors Capital (TRI Cap) also contributing.

This follows a $1.8 million investment round in January 2010 in which Osram was one of the investors. January's investment round, the first since DLP's launch in 2006, was designed to fund application development and commercialize existing product lines. Stuart Bain, chief executive of DLP, said the latest funding round will now see it "aggressively pursuing market entry."

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