Laser Light Engines, a US-based maker of lights for cinema projectors, has raised $13m in its series B round from a venture consortium including strategic backer Imax.
The other investors in the B round include venture capital firms Braemar Energy Ventures and Harris & Harris Group.
As part of the investment, Laser will develop a customised version of its lights for use in Imax digital projection systems, making the chain the exclusive large format cinema user for up to three years.
Imax will also use Laser as its outsourced research and development department following an agreement struck in July.
Laser’s equipment provides two to five times the brightness level of a traditional Xenon bulb, making it useful for three dimension films that need more light and saving an estimated $10,000 per year on lower electricity bills and light bulbs.
Brian Bonnick, executive vice president of technology at Imax, said: "Laser Light Engines’ technology will not only enable the highest brightness large format digital 3D presentation in the world, but also drive additional image quality advances."
Doug Darrow, chief executive of Laser, which raised $5m in its series A round in May 2008, said: "We will continue growing our business with the current round of financing now closed and look to add to our list of strategic and equity partners."