Optoscribe closes $2.3 million Series B funding round

Optoscribe, which makes glass-based integrated photonics components, has closed £1.8 million ($2.3 million) in Series B funding. Scottish business angel investment syndicate Archangels led the round, joined by existing investors Par Equity, Scottish Investment Bank, and the Optoscribe management team. The company plans to use the cash infusion for expansion and product supply purposes.

Optoscribe, which makes glass-based integrated photonics components, has closed £1.8 million ($2.3 million) in Series B funding. Scottish business angel investment syndicate Archangels led the round, joined by existing investors Par Equity, Scottish Investment Bank, and the Optoscribe management team. The company plans to use the cash infusion for expansion and product supply purposes.

Specializing in wafer-level production of optical coupling components, Optoscribe primarily serves optical transceiver producers. The components enable simple and precise coupling of optical fibers to arrays of laser emitters and/or photodetectors within optical modules. The components are designed to support automated assembly. Optoscribe also has experience with multicore fiber applications (see, for example, "Optoscribe unveils eight-channel multicore fiber fanout device").

The Livingston, UK, company was founded in 2010 out of Heriot Watt University and recently opened a 7,400-square-foot manufacturing facility.

"We have delivered significant growth and shareholder value over the past 18 months," asserted Nick Psaila, Optoscribe CEO. "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 focused growth plans and expand both our product portfolio and supply base."

"With our track record in supporting ambitious young companies, we understand the need to commit to follow-on funding," added David Ovens, chief operating officer at Archangels. "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."

Optoscribe announced a previous round of funding in April of last year (see "Optoscribe attracts £1.2 million in funding").

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