Raydiance closes $20 million funding round for ultrafast laser development
November 21, 2008--Ultrafast laser manufacturer Raydiance (Petaluma, CA) secured $20 million in Series D financing that will allow it to scale its infrastructure, further evolve its technology, and enhance its ability to address larger commercial markets. Raydiance also announced launch of its new Discovery 2.0 system, which delivers double the pulse energy of its first-generation ultrashort pulse or ultrafast laser platform.
"Similar to the evolution of computing, Raydiance is pursuing a 'Moore's Law'-like path to develop and bring to market ultrafast lasers that are cheaper, smaller and more powerful with each generation," said Raydiance co-founder and president Scott Davison. "The introduction of the Raydiance Discovery 2.0 system, combined with our recently-secured round of funding, not only validates this vision, but also will enable the development of even more game-changing applications powered by Raydiance across a broader range of industries."
Over the past two years, Raydiance customers have been developing next-generation applications in ophthalmology, dermatology, gene transfection, surgery, and homeland security and defense (see "Raydiance takes a new approach to ultrafast lasers" at www.laserfocusworld.com/articles/308751).
Raydiance says its Discovery 2.0 significantly expands its market opportunities, most notably in the machining of advanced vascular stents and thin-film solar-cell production. Early next year, several new products by Raydiance are expected to begin entering the marketplace.
"After four successful years of developing the Raydiance ultrafast laser platform, bringing the technology to market and establishing a solid client base, this new round of funding will allow us to execute fully on our next stage of growth and development," said Davison.
Previously, Raydiance secured over $25 million in venture capital financing and $10 million in government funded R&D contracts, which enabled the launch of its first commercial product in 2007. Raydiance has reserved an additional $5 million to raise from a strategic investor.
For more information, visit www.raydiance-inc.com.
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