News: Optoelectronics
4 April 2024
NUBURU raises $3m from strategic investors
NUBURU Inc of Centennial, CO, USA — which was founded in 2015 and develops and manufactures high-power industrial blue lasers — has announced a $3m investment in its common stock by strategic investors focused on strengthening and growing the company. The firm has also announced initial purchase orders from new customers in new markets.
“The customer qualification process for our products can be lengthy and complex, but we are finally seeing the fruits of our efforts,” says CEO Brian Knaley. “We have orders to fill in critical new markets and with new customers, and we believe this investment will accelerate our fulfillment process and path towards consistent revenue generation.”
Investment by strategic partner
NUBURU reckons that the investment marks a step forward in its evolution towards a more diversified and innovative future. The strategic investment was led by experienced fintech industry leader Alessandro Zamboni, who has extensive experience as chairman of AvantGarde Group S.p.A., including successful ventures in risk management and working capital solutions.
Key initial orders
Among the new orders, NUBURU has been awarded an initial purchase order to supply BL-300s to a best-in-class manufacturer of battery systems in the sustainable energy market, with manufacturing capabilities primarily in Asia. NUBURU’s blue laser technology will be used in the production of fully automated, high-quality welding of components within electric vehicle (EV) battery modules, which will be used primarily in the automotive and e-mobility markets.
Special meeting to approve stock acquisition of further assets and diversification
In connection with the strategic investment, NUBURU intends to call a special meeting of stockholders to, among other things, approve the issuance of additional common stock for the purpose of acquiring controlling and non-controlling interests in one or more entities. These changes would allow for the acquisition of additional assets and the strategic diversification of the company’s business. Additional details will be provided in the notice of the special meeting and the related proxy statement. NUBURU will also continue to explore capital-raising opportunities, as permitted by the authorization obtained at its most recent special meeting of stockholders on 22 February.
NUBURU evaluating strategic alternatives
NYSE American commences delisting proceedings for NUBURU’s warrants
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NUBURU announces $5.5m bridge financing
