The fresh £1 million investment has been provided by existing investors and led by EOS, Kelvin Capital and Scottish Enterprise, and will be used to invest in key infrastructure needed to support the firm’s continued progress into industrial markets. Chromacity manufactures lasers for industrial applications and academic research. It has developed a new generation of “affordable ultrafast lasers that are reliable and simple to use”.
Chief executive Shahida Imani 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, described as an experienced executive and non-executive director in the photonics, IT and robotics industries, joins the company as non-executive chairman. Black was also the chief executive of software firm SeeByte, which he successfully grew before exiting in 2013.
He 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.”
Also joining the Chromacity board is Richard Laming, an academic, founder, executive and non-executive director of technology businesses spanning optoelectronics, micro-electromechanical systems and electronics. The new board members join existing investor director Graham Miller, who leads sales development at Agilent Technologies’ molecular spectroscopy division.