Maradin raised 3M$, hopes to have their pico projector chip ready by 2010

Isarel based Maradin is working on a "Miniaturized laser-diode projector", or MLP, based on MEMS technology. Maradin says that MLP enables the projection of true colored data, by raster scanning a low power laser beam, to achieve high resolution, video quality images. Basically it means that the projector will be small, but with high qaulity and resolution. And it'll be cheap, too...

Maradin announced today that they have raised 3M$ from a private Swiss company (we haven't got the name). 

Maradin already has a prototype of their projector, and are working on commercialization. They plan to have it ready to market early in 2010. They will cooperate with Singapore's IME research center, who will producethe chips.

Via TheMarker (hebrew)