Suzhou Everbright Photonics, a China-based laser technology developer backed by photoelectronic instrument producer Up Optotech, has raised $22m in its series B round, China Money Network reported on Friday.
The funding was supplied by SDIC Venture Capital, part of government-owned investment holding group State Development and Investment Corporation, as well as Suzhou Chengxin Venture Capital and an unnamed venture capital fund managed by Chinese Academy of Sciences.
Founded in 2012, Everbright Photonics develops high-powered diode lasers for a wide range of uses including industrial processing, printing and medical and scientific research. It received an undisclosed amount of funding from Up Optotech in 2012.
The series B cash will allow the company to boost its manufacturing capabilities as it looks to develop and mass produce a direct semiconductor laser and a vertical-cavity surface-emitting laser radar chip, which would have applications in areas such as fibre optic communications.
– The original version of this article appreared on our sister site, Global University Venturing.