SOUTHAMPTON, U.K. -- Mesophotonics Ltd, a developer of disruptive photonic crystal technology, today announced the closing of a $10 million second round fund raising. Quester led the investment alongside participating investors which include Auriga Partners (Paris), NIF Ventures Co. Ltd (Tokyo) and existing investor BTG. As part of this investment, Jamie Brooke, of Quester, and François Lainée, of Auriga Partners, will join the board of directors of Mesophotonics.
After nine years of research at the University of Southampton, Mesophotonics was founded in 2001, in partnership with BTG, to further develop photonic crystal devices, design products and take them to market. The new financing represents a significant milestone for the company and comes at an important juncture as it moves from a prototyping to a product development phase aimed at bringing a new class of photonic crystal optical devices to the market within 2 years. The company has already received its first purchase orders and is currently in discussions with a number of potential partners to bring further products to market
James McKenzie, CEO of Mesophotonics commented: “We are extremely pleased to attract some of the most well-known international investors in the high-tech industry. The possible markets for Mesophotonic’s technology are vast and this new funding puts us on a firm footing to complete commercialisation of our exciting ideas. The team is already designing products to meet the visible light source demands of next generation projection display and optical storage manufacturers.”
Jamie Brooke, Investment Director at Quester who will join the company’s board commented: “This is an excellent example of the high quality companies introduced to us through our strong university network and relationship with BTG. We are backing a sound, fast growing business and are delighted to play a role in supporting its growth ambitions. Mesophotonics has the ideal combination of large market opportunities, well protected disruptive technology, and proven management talent that are key for a successful start-up company.” Mesophotonics was advised by Matt Rogers and Rogere Capital on the financing.