March 28, 2006 Garching, Germany -- Vertilas GmbH, a supplier of vertical cavity surface emitting laser (VCSEL) diodes, announced its completion of a third round of financing with results totaling 3.6 million Euro. The company says it plans to use the new capital to advance the commercialization of its products, thereby continuing the company's expansion into worldwide markets.
Vertilas produces long-wavelength semi-conductor lasers for use in sensor and measurement and optical communications technology. The company specializes in the development of VCSEL diodes with wavelengths of up to 2300-nm. The company says its laser diodes are known for their small design as well as for their low power consumption, and possess distinguishing properties for various spectroscopic applications, including the measurement of various gases under "difficult" conditions.
In addition to High Tech Private Equity GmbH, the main investor of the company's first two financing rounds, the latest round included KfW Mittelstandsbank as a new investor.
"The renewed capital investment in our company proves that we have a promising technology with great growth potential. The financing grants us the liquidity necessary to enable our customers' innovative products using our laser diodes to start mass production, and to make our partners successful," comments Gerald Vollnhals, managing director of Vertilas.
The company says that it's equipped with a solid capital basis over the next two years and will continue to expand its market position quickly. At the time of its last financing round in September 2004, the company says it had already received about two million Euro, and had successfully invested the capital in development as well as expanded distribution.
"We are convinced that Vertilas will continue to grow dynamically and develop into a profitable company within the next few years," concludes Christian SchÃ¼tte of High Tech Private Equity GmbH.