News: Optoelectronics
10 June 2024
Vector Photonics gains £1.667m in equity investment and £1.27m in research funding
Vector Photonics Ltd (which was spun off from Scotland’s University of Glasgow in 2020, based on research led by professor Richard Hogg) has received £1.667m in equity investment and £1.27m in additional research funding for the continued commercialization of its unique Surface Coupling Laser (SCL) technology, which is claimed to enhance performance in applications as diverse as next-generation data centers, co-located optics, artificial intelligence (AI), metal and plastic printing, LiDAR, and optical sensing.
The £1.667m equity investment comes from four companies, each a next-generation technology and early-stage investment specialist that has invested in Vector Photonics previously.
- Foresight WAE Technology (FWT) Funds invests in high-growth-potential companies with innovative and transformational technologies;
- UK Innovation & Science Seed Fund (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.
The new research funding comprises two development projects:
- FRONTIERS is a £670,000 revenue-generating development project for free-space optics, funded by the Small Business Research Initiative (SBRI).
- GRAPHICS is a £600,000 Innovate UK-funded grant, in collaboration with the University of Glasgow, developing gallium nitride (GaN) material processing expertise. This could lead to blue and green lasers that consume 70% less power than equivalent LEDs, it is reckoned.
The new funds take Vector Photonics’ current funding total to nearly £3m. “This provides a strong, financial base to continue the development and commercialization of the company’s unique and revolutionary surface-emitting laser technologies,” says Neil Martin.
Vector Photonics and University of Glasgow collaborating to develop surface-emitting lasers
Vector Photonics receives over £2.4m of equity investment
Vector’s £1.6m equity investment takes seed funding round to £4m
