Optoscribe continues its rapid growth in commercializing next-generation photonic components.
Optoscribe, a developer of glass-based integrated photonics components, has closed a series B investment round of $2.3 million (£1.8 million) in line with its expansion and product supply plans.
The funding was led by Scottish business angel investment syndicate, Archangels, and also supported by its other existing investors, Par Equity, Scottish Investment Bank and the Optoscribe management team.
Optoscribe’s innovative technology produces optical components at a wafer level, primarily aimed at high volume optical transceiver manufacturers supplying the rapidly growing data center market. The company’s solution enables simple and precise coupling of optical fibers to arrays of laser emitters and/or photodetectors within optical transceivers.
This allows the transceiver manufacturers to fully automate assembly using Optoscribe’s monolithic single optical interconnect component while dramatically reducing the costs associated with assembly and test.
Adding significant growth and value
Nick Psaila, Chief Executive Officer at Optoscribe said: “We have delivered significant growth and shareholder value over the past 18 months. The recent opening of our new manufacturing facility has further enhanced our ability to supply volume products and support our customers’ needs. This investment round will enable the company to continue our focussed growth plans and expand both our product portfolio and supply base.”
David Ovens, Chief Operating Officer at Archangels, said: “With our track record in supporting ambitious young companies, we understand the need to commit to follow-on funding. This is a very exciting time in Optoscribe’s development. The Company has a strong management team and a clear vision in a large and expanding market segment.”
Robert Higginson, partner at Par Equity, said “Par Equity is interested in companies with disruptive and innovative technology capable of addressing a global market – Optoscribe clearly fits this bill in all respects, and we look forward to supporting the team through this exciting scale-up phase of the company’s development.”