News Article
nLIGHT lasers to power ahead with $17.5 million funding
The cash will be used to accelerate growth in the semiconductor (including compound semiconductor)-based laser market, which addresses materials processing, defence and medical applications.
High-power semiconductor laser provider nLIGHT Corporation has received $17.5 million in fully subscribed Series E financing. This funding round brings the company’s total equity funding to approximately $110 million.
The investment will help fuel nLIGHT’s rapid growth in semiconductor-based lasers that address materials processing, defence and medical applications. Such products include multi-kilowatt laser systems, high peak-power pulsed fibre lasers, and diode-pumped solid-state laser rangefinders.
“We founded nLIGHT with the vision that dramatic improvements in semiconductor lasers would transform the laser industry and enable disruptive new applications,” said Scott Keeney, CEO. “This funding will allow us to continue to fulfil this vision and support our accelerating growth.”
The funding follows recent performance highlights including: continued growth in profitability, over $60 million in order bookings for the first half of 2011, the addition of over one hundred employees in the last year, and the successful launch of the nPower multi-kilowatt laser platform.
Existing investors participating in the round include Oak Investment Partners, Mohr Davidow Ventures, and Menlo Ventures. All have been actively involved with the company for over ten years and have a strong record of companies achieving initial public offerings.
