Zia wins USD5.4m in Series B financing for quantum dot laser manufacturing
4 March 2003 -- Zia Laser has received USD5.4m in Series B equity financing to launch commercial volume manufacturing and sales of its 1310 and 1550nm InP-based quantum dot semiconductor lasers.
4 March 2003 -- Albuquerque-based Zia Laser Inc, which develops 1310 and 1550nm InP-based quantum dot (QD) semiconductor laser technology for metro, access, test and measurement communication systems as well as medical optical applications, has received USD5.4m in Series B equity financing co-led by Prism Venture Partners and the RWI Group.
The funding will enable Zia to launch commercial volume QD manufacturing and sales. "The investment is a validation of our innovative technology and ability to execute in a time when raising capital is extremely challenging. Our business strategy and continued low burn rate are critical to the longevity of the company," said president and CEO Tom Brennan.
Zia has already begun sampling small quantities of its laser technology to customers and recently received ISO 9001:2000 National Quality Assurance certification. "Series B financing was essential for enhancing our ability to manufacture high-volume QD material, strengthen our partnerships with outsourced vendors and meet the needs of our customers," said chief operating officer Joseph Dixon. "Zia prides itself on providing high-performance 1310nm uncooled DFB lasers that exceed the performance currently available in QW [quantum well] technology."
Due to their unique electronic properties and three-dimensional carrier confinement, QD lasers are highly temperature insensitive, with a broad gain spectrum and ultra-low linewidth.
William Seifert, General Partner of Prism Venture Partners said, "Both our initial and subsequent investments in Zia were based on the market-leading technology and tremendous opportunity of quantum dot technology." Bill Baumel, Managing Member of RWI Group adds that Zia's quantum dot technology and will enable "low-cost, high-performance solutions not currently possible with existing quantum well laser technology".