Optoscribe closes Series B investment round
Optoscribe, a supplier of glass-based integrated photonics components, has closed a series B investment round of GBP1.8 million in line with its expansion and product supply plans.
The funding was led by Scottish business angel investment syndicate, Archangels, and also supported by its other existing investors, Par Equity, Scottish Investment Bank and the Optoscribe management team.
Optoscribe’s innovative technology produces optical components at a wafer level, primarily aimed at high volume optical transceiver manufacturers supplying the rapidly growing data centre market. The company’s solution enables simple and precise coupling of optical fibres to arrays of laser emitters and/or photodetectors within optical transceivers. This allows the transceiver manufacturers to fully automate assembly using Optoscribe’s monolithic single optical interconnect component while dramatically reducing the costs associated with assembly and test.
Nick Psaila, Chief Executive Officer at Optoscribe, says: “We have delivered significant growth and shareholder value over the past 18 months. The recent opening of our new manufacturing facility has further enhanced our ability to supply volume products and support our customers’ needs. This investment round will enable the company to continue our focussed growth plans and expand both our product portfolio and supply base.”
David Ovens, Chief Operating Officer at Archangels, says: “With our track record in supporting ambitious young companies, we understand the need to commit to follow-on funding. This is a very exciting time in Optoscribe’s development. The Company has a strong management team and a clear vision in a large and expanding market segment.”