Raydiance, a US-based manufacturer using lasers, has raised $20m from a consortium led by South Korea conglomerate Samsung Group’s corporate venturing unit.
Alongside Samsung Venture Investment Corporation (SVIC) in the growth equity funding were venture capital firms Draper Fisher Jurvetson, DFJ-Growth and Greenstreet Partners.
Jay Chong, investment director at SVIC, said: “The demand for smaller, smarter devices continues to grow.
“We are investing in Raydiance to ensure that these solutions are available for a variety of high volume manufacturing applications.”