Since early 2020, several industries, including travel and hospitality, have been hit hard around the world. Similarly, pandemics have hit laser makers.To combat the challenges imposed on laser makers by COVID-19, an Edinburgh-based ultrafast laser maker Chroma City Has developed a remote installation feature for optical parametric oscillators (OPOs).
With recent developments, the company has announced that it has completed a £ 1.2m growth funding round. The round was attended by existing investors Kelvin Capital, EOS, Scottish Enterprise and new investors ESM Investments.
Company use Financing Expand the workforce, especially within the manufacturing and R & D departments.The funds will also be used to accelerate this activity, especially in Asia.
Shahida Imani, CEO of Chromacity, said: Significant traction can be seen in the major industrial companies in China and Japan who are very interested in the high average power and wide wavelength range of our systems. It is important to raise funds to accelerate growth and take advantage of these opportunities.
“We are pleased that existing investors continue to support our mission to revolutionize basic research and industrial applications with a new generation of affordable ultrafast lasers with plug-and-play capabilities. We are also delighted to welcome ESM, which will be an important investment partner for future success. “
Ian Stevens, non-executive chairman of Chromacity, said: “Chromacity not only has the disruptive technology needed to drive new ultrafast laser applications, but continues to demonstrate its ability to innovate its business model in the face of difficult situations. With this pandemic, the company’s investors, old and new, have the significant opportunity to bring these qualities and ultrafast laser technology to new, yet undeveloped markets. recognizing.”
Founded in 2013 by Christopher Leburn and Carl Farrell, Chromacity develops ultrafast fiber lasers for a wide range of scientific and industrial applications. Its portfolio includes remote installation capabilities for optical parametric oscillators (OPOs).
Chromacity is one of the first to implement this method of installation of these complex optical systems, enabled by a new IP-protected laser architecture and manufacturing expertise. It has supported Chromacity in acquiring new customers around the world during a pandemic.
https://www.uktech.news/news/edinburgh-startup-chromacity-funding-20210811 Edinburgh-based startup will bag £ 1.2m for commercial development of ultrafast lasers