Vector Photonics raises £2.94M funding
UK-based firm has received £1.667M of equity investment and £1.27M of research funding for commercialisation of Surface Coupling Lasers (SCL)
UK-based Vector Photonics has received £1.667 million of equity investment and £1.27 million of additional research funding, for the continued commercialisation of its unique, Surface Coupling Laser (SCL) technology.
The company believes that its SCL technology can revolutionise semiconductor laser manufacture, enhancing performance in applications as diverse as next-generation data centres, co-located optics, AI, metal and plastic printing, LiDAR, and optical sensing.
Neil Martin, CEO of Vector Photonics, said: “Vector Photonics’ successful £1.667 million equity investment round and £1.27 million of additional research projects take its current funding total to nearly £3 million. This provides a strong, financial base to continue the development and commercialisation of the company’s unique and revolutionary, surface emitting laser technologies."
The equity investment comes from four companies, all of which have invested in Vector Photonics previously. Foresight WAE Technology (FWT) Funds, UK Innovation & Science Seed Fund (UKI2S), Equity Gap and Scottish Enterprise.
The new, research funding comprises two development projects. The first, FRONTIERS, is a £670k, revenue-generating, development project for free-space optics, funded by the Small Business Research Initiative (SBRI). The second, GRAPHICS, is a £600k, Innovate UK-funded grant, in collaboration with the University of Glasgow, developing GaN material processing expertise. This could lead to blue and green lasers that consume 70 percent less power than equivalent LEDs, according to Neil Martin.
Each equity investor is a next-generation technology and early-stage investment specialist. FWT Funds invest in high growth-potential companies with innovative and transformational technologies; UKI2S is a specialist deep-tech seed fund, focused on spin outs from the UK’s research base; Equity Gap is an angel investment syndicate, investing at an early stage in new technology businesses throughout Scotland; and Scottish Enterprise is Scotland’s national, economic development agency and works to transform the Scottish economy by helping businesses innovate and scale.
