Intense Photonics raises £ 11.25 million in series B funding
October 23, 2002--Intense Photonics, developer of integrated optical components, has received an additional £ 750,000 investment from Italian-based Alice Ventures to close its series B funding round.
Intense Photonics, developer of integrated optical components, has received an additional £ 750,000 investment from Italian-based Alice Ventures to close its series B funding round.
The additional funding takes the round led by Cazenove Private Equity previously announced on August 22, 2002, to £ 11.25 million. Alice Ventures joins the syndicate consisting of Cazenove Private Equity, FNI Venture Capital, TTP Ventures, together with first round investors 3i and ACT Venture Capital.
Intense Photonics will use the funds to further accelerate the development of its product range and strengthen its marketing effort. To date, Intense Photonics has successfully secured funding totaling £ 21.25 million.
"Alice Ventures adds a further European dimension to Intense and brings a new network of contacts that complements those already provided by our existing investor base," contends David Lockwood, chief executive officer of Intense Photonics. "This latest investment is also a further endorsement of the company in a period of unprecedented turmoil in the sector."
For more information about Intense Photonics Ltd. (High Blantyre, Scotland), visit the company's Web site at www.intensephotonics.com.