$28m Fund Lets AOI Expand To Meet Demand
Texas-based supplier of diode lasers, photodiodes, and related equipment Applied Optoelectronics, Inc. (AOI) has increased the total capital raised over the ten years since it was established to $68.9 million with the latest $28 million worth of venture funding.
AOI told compoundsemiconductor.net that with most of its production lines operating at capacity, all involved parties saw the need for expansion to meet the strong demand for its products.
“Finishing our E round reflects the confidence the investment community has in AOI and our desire to expand our presence in the fiber-optic market," explained founder, president and CEO of AOI, Thompson Lin.
The main investment is focused on the expansion of manufacturing in packaging and modules, however the four MBE reactors that AOI uses to draw all of its wafers will have to keep pace with the rest of its production ramp.
AOI further explained that as market conditions in the sector improved it intended to take advantage of this opportunity, extracting maximum benefit from existing products, to support development in new areas and increase headcount at its sites.