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Funding for startups

BlazePhotonics Secures $9M Round

BATH, U.K. -- BlazePhotonics, a producer of next generation photonic crystal fiber, today announced it has secured $9 million in first-round funding. Celtic House Investment Partners led the round, which also included Quester Capital Management. BlazePhotonics, a spin-out from the University of Bath in the United Kingdom, was established to exploit the commercial possibilities offered by photonic crystal fiber (also known as microstructured or holey fiber), which was invented by members of the University’s Optoelectronics Group led by Professor Philip Russell.

The company will use the funding to establish a custom built facility and grow its R&D and operational teams. The operations will remain close to Bath and will maintain close links with the University of Bath and its centre of excellence in optoelectronics. As part of the deal, the University will be a significant shareholder and will vest all of its existing and future intellectual property arising from research in photonic crystal fibers in BlazePhotonics.

" We believe that Philip Russell and his team are truly the world leaders in the photonic crystal fiber field, “said Alo D’Arcy, General Partner at Celtic House. “The team has developed and continues to develop revolutionary next generation fiber technology which BlazePhotonics is now well placed to exploit. This investment reinforces Celtic House’s commitment to creating successful new companies out of the best university research groups and continues our focus in the optical communications field.”

http://www.blazephotonics.com
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