OPTOSCRIBE ANNOUNCES 1.2 MILLION INVESTMENT
25 April 2016, Scotland
Scottish based company Optoscribe is pleased to announce it has received £1.2 million in investment.
The fundraising was led by Archangels, who provided £825,000 of funding, supported by Par Equity, the Edinburgh venture capital fund, with £325,000 of investment, and Scottish Investment Bank (SIB) who invested £50,000.
Optoscribe was founded in 2010 as a spin out business from Heriot Watt University, and has developed unique 3D photonic components for use inside communications systems in the datacoms, telecoms and mobile phone markets. The technology enables Optoscribe to produce high performance products that connect optical fibres with arrays of emitters or receivers where space is limited and high bandwidth connectivity is essential.
Optoscribe already has development contracts with a range of well-known technology companies and supplies its products worldwide to these companies for research and development purposes. The newly invested funds will be used by Optoscribe to invest in manufacturing facilities to allow it to scale the business and capitalise on the opportunities for its technology, with a particular focus on its FCX product line that is targeted at the data communications market.
Nicholas Psaila, CEO of Optoscribe, said:
“This investment round will enable a significant transformation of Optoscribe, allowing the company to substantially increase its capabilities through hiring further experienced staff and an expansion to its manufacturing facilities. The investment is a tremendous boost to the company, and we are excited to be embarking on a new phase of growth.”
To view the press release, click here.