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Southampton Science Park based Mesophotonics
Ltd, a developer of disruptive photonic crystal technology, has recently
announced the closing of a $10 million second round fund raising. The
investment was led by Quester, one of the UK's leading venture capital
groups.
In 2001, after nine years of research at
the University of Southampton, Mesophotonics was founded in partnership
with BTG - a world leader in the commercialisation of novel technologies.
Their aim was to further develop photonic crystals to be used in the
fields of lasers, miniature optics, telecommunications and computing.
The new financing represents a significant
milestone for the company and comes at an important juncture:
Mesophotonics is moving from a prototyping phase to a product development
phase aimed at bringing a new class of photonic crystal optical devices to
the market within 2 years. The company has already received its first
purchase orders and is currently in discussions with a number of potential
partners to develop further products.
James McKenzie, CEO of Mesophotonics commented:
"We are extremely pleased to attract some of the most well-known
international investors in the high-tech industry. The possible markets for
Mesophotonics' technology are vast and this new funding puts us on a firm
footing to complete commercialisation of our exciting ideas. The team is
already designing products to meet the visible light source demands of next
generation projection display and optical storage manufacturers."
Jamie Brooke, Investment Director at Quester,
who will join the company's board commented:
"This is an excellent example of the high quality companies introduced
to us through our strong university network and relationship with BTG. We
are backing a sound, fast growing business and are delighted to play a role
in supporting its growth ambitions. Mesophotonics has the ideal combination
of large market opportunities, well-protected disruptive technology, and
proven management talent that are key for a successful start-up company.
"
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