Vector Photonics Seed Funding Reaches £4m
University of Glasgow spin-out is primed to commercialise PCSEL-based semiconductor laser technology
Vector Photonics has received £1.6m of equity investment to commercialise its unique, PCSEL-based, semiconductor laser technology.
The company's PCSELs (Photonic Crystal Surface Emitting Lasers) revolutionise semiconductor laser manufacture and performance, with real benefits over existing laser technology in data communications; additive manufacturing, including metal and plastic printing; LiDAR; and optical sensing - some of the fastest growing technology markets in the world right now.
Neil Martin, CEO of Vector Photonics, said: “We are pleased to announce the £1.6m equity investment for Vector Photonics, which comes from a consortium of three specialist funding companies - Foresight, the UK Innovation & Science Seed Fund (UKI2S) and Equity Gap. This is in addition to three government grants worth £2.4m and takes our seed funding round to more than £4m - a fantastic achievement for a one-year-old, Covid era, University of Glasgow start-up.
“Each investment company adds its own unique value to our business and will have board representation. Foresight invests in high growth-potential companies with innovative and transformational technologies via the Foresight Scottish Growth Fund and Foresight Williams, a joint venture with Williams Advanced Engineering. UKI2S is a specialist deep-tech seed fund focused on spin outs from the UK's research base. Equity Gap is an angel investment syndicate, investing early in new technology businesses throughout Scotland.”
Vector Photonics is a spin-out from the University of Glasgow, based on world-leading semiconductor research led by Richard Hogg. The government grants, which came through Innovate UK, are ‘LOCAL', optimising PCSEL technology for Datacoms; ‘Bloodline', which is for 3D metal printing; and ‘Facilitator', which is for 3D plastic printing.