Lumeova, a Raleigh-based startup, is bringing patent-pending technology to market that it says boosts wireless data speeds “at least” 10 times that of Wi-Fi.
And the technology is already drawing outside interests with grants from National Science Foundation, State of North Carolina, and the NCSU Daugherty Endowment.
“Lumeova’s ultra-fast, wireless optical modules employ patent pending optical technology that enable them to operate in a mobile environment at tens of billion-bits-per-second data speed and at low power consumption,” says CEO Ali Khatibzadeh.
“Our optical technology is designed and optimized for fastest communication speed in a mobile environment where devices move around and perfect-line-of-sight is impossible.”
Lumeova is among the presenting companies at the CED Tech Venture Conference on Sept. 19-20 in Raleigh.
This profile is the latest in a series edited, written and published by WRAL TechWire in partnership with the CED.
- Website: www.lumeova.com
- Email contact: Brian Ribeiro mspire group firstname.lastname@example.org 908-369-9300
- Address: LUMEOVA NC State Technology Incubator 1017 Main Campus Dr., Suite 2300 Raleigh NC 27606
- CEO: Ali Khatibzadeh
- How many employees? 6
- Link to CED Tech Venture Company Profile: https://cednc.org/company-profile/lumeova
- What is the focus of your business?
LUMEOVA’s patent-pending wireless modules can increase data speeds by at least 10X compared to latest radio WiFi solutions. That is the difference in speed between driving a car down the highway at 60 mph and flying a commercial jet at 600 mph! Today’s radio wireless information highways are overcrowded and future growth in speed comes through wireless optical runways.
LUMEOVA’s target market segments span the entire range of devices that utilize WiFi such as smart phones, tablets, video streaming dongles, digital cameras, virtual reality gear, wearable devices, drones, routers and TVs.
- What is the top pain point/business application you are seeking to address?
Wireless data traffic is exploding due to the insatiable consumer appetite for video content on mobile devices. Smart phones and tablets are now equipped with high resolution cameras capable of capturing and displaying 4K video content. Wireless data demand is forecasted to grow at a compound annual growth rate of over 50% in the next 5 years! Emerging application such as virtual reality are only going to accelerate this trend.
On the other hand, the wireless industry cannot keep up with data growth due to lack of good radio spectrum. Radio waves in the frequency bands between a few kilo-Hertz (kHz) and about six Giga-Hertz (GHz) travel very well in the atmosphere. Nearly all of the wireless communications that we depend on daily, ranging from AM/FM radio to terrestrial TV broadcast, satellite radio, cellular phones and WiFi operate in the sub-6GHz bands. These bands are like multi-lane high-ways that are very congested and cannot be widened.
To support faster wireless data speeds, more spectrum is needed. While FCC is in the process of releasing new spectra in the microwave bands beyond 6GHz for 5G cellular services, radio signals above 6GHz get significantly diminished as they travel through the air due to absorption of radio energy by moisture, oxygen and other compounds in the atmosphere. Optical communication offers tremendous bandwidth and connectivity speeds at low power consumption and low cost for consumer electronic devices.
- What makes it unique?
LUMEOVA’s ultra-fast, wireless optical modules employ patent pending optical technology that enable them to operate in a mobile environment at tens of billion-bits-per-second data speed and at low power consumption.
Our optical technology is designed and optimized for fastest communication speed in a mobile environment where devices move around and perfect-line-of-sight is impossible.
- Why should investors be interested in your firm?
We have developed our business plan from the outset with key success factors built in:
• Market Driven: LUMEOVA is solving a REAL market problem with a differentiated, platform technology. Our solution is addressing a growing market problem (i.e. explosive wireless data growth) that cannot easily be addressed by existing technology due to lack of good spectrum and fundamental laws of physics.
• Scalable LUMEOVA’s addressable market is estimated at over $3B with double-digit growth rate in the next 5+ years driven by consumer demand for mobile video. Our platform technology addresses a large number of market segments that require ultra-fast communication solutions.
• Strong Differentiation & IP: Patent pending innovations from materials, to device and system implementation of ultra-fast, wireless optical technology.
• Proven Team: Our team has years of industry track record in wireless product development and business development leadership. Extensive executive network in the wireless and semiconductor industries.
• Strong Partnerships: Tier-1 partnerships with leading companies in the wireless industry. Strong partnership with North Carolina State University.
- How are you financed at this point?
Financed through grants from National Science Foundation, State of NC, Daugherty Endowment.