25 October 2002 -- Intense Photonics, Scotland, a fast emerging developer of innovative integrated optical components, has announced that it has received an additional EUR1.18m (GBP750,000) 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 22nd 2002 to EUR17.6m (GBP11.25m). 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 EUR33.6m (GBP21.25m).

Commenting on the additional funding David Lockwood, CEO of Intense Photonics said "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. This latest investment is also a further endorsement of the company in a period of unprecedented turmoil in the sector".