RPO, a US-based developer of optical touch technology, has reportedly filed for bankruptcy protection.
News provider VentureWire said RPO’s filing came after a potential customer pulled out of an order.
In September Nasdaq-listed lender Bridge Capital teamed with equipment lease financier Trinity Capital Investment to complete a $15m debt to fund the launch and commercialization of RPO’s Polymer Optical Waveguide Technology.
Originally formed in Australia, RPO received corporate venturing backing from a Korean customer, GE Capital and BASF Venture Capital and venture capital firms Jafco, Jolimont, A&B (Allen & Buckeridge) and Neo Technology Ventures.
RPO extended its series C round in November 2009 by $19.3m, having previously raised $20m.