Ultrafast laser firm Chromacity has secured a £1m funding deal and appointed two directors as it looks to grow into new industrial markets.
The Edinburgh manufacturer has secured the investment from existing backers led by EOS, Kelvin Capital and Scottish Enterprise. It will use the cash to invest in the infrastructure it needs for growth.
The company makes lasers that are used in industrial applications and academic research.
Shahida Imani, CEO of Chromacity, said: "We're continuing to build on our global reputation for providing high quality lasers for research in life sciences, but this funding will also support growth opportunities in industrial markets including semiconductor testing, defence and environmental sensing."
Robert Black, an experienced executive and non-executive director in the photonics, IT and robotics industries, has joined Chromacity as non-executive chairman. He has previously served as CEO of software firm SeeByte, which he successfully grew and exited in 2013.
Mr Black said: "Ultrafast lasers are driving innovation across a wide range of industries. Chromacity is well-positioned to disrupt the sector with its high-performance, low-cost systems and I am delighted to join the board at this important time in the company’s expansion."
He will be joined on the board by academic and entrepreneur Richard Laming, who led development of technologies that went on to be commercialised by Pirelli and SPI Lasers.
They will sit alongside in existing investor director Graham Miller, who leads sales development at Agilent Technologies’ Molecular Spectroscopy Division.
Ms Imani added: "It is important for Chromacity to have the right team around us as we move into the next evolutionary phase of the business. Now every member of our board has relevant industry expertise and knowledge that can help us execute successfully."
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