The Scotsman, 5 October 2014

A TECHNOLOGY start-up that uses beams of light to transmit data has been tipped as a flotation candidate, potentially worth "hundreds of millions of dollars", as it looks set to smash its fundraising targets.

PureLiFi, which was spun out from Edinburgh University in 2012, has already secured about £1.5 million from investors including business angel syndicate Par Equity and Scottish Enterprise.

As revealed by Scotland on Sunday in December, the firm has embarked on a further fundraising round aimed at bringing in about £3m, but is now poised to raise more than twice that figure. Edinburgh-based finance boutique Quest Corporate has been appointed to arrange the funding.

Quest Corporate founder Marcus Noble said PureLiFi, co-founded by chief science officer Harald Haas, "is a phenomenal business" with strong prospects for an initial public offering (IPO).

While current wi-fi systems use radio waves to transmit internet data and other information, LiFi equipment uses beams of light.

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