Laser firm Chromacity raises £1m and hires chair
Ultrafast laser manufacturer Chromacity has secured a £1m package of support and appointed a chairman and another director as the company expands further into industrial markets.
The new investment was 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 Chromacity’s continued progress into industrial markets.
Chromacity manufactures lasers for industrial applications and academic research. The Edinburgh-based manufacturer has developed a new generation of affordable ultrafast lasers that are reliable and simple to use.
Shahida Imani, CEO, sai the funding will support growth opportunities in industrial markets including semiconductor testing, defence and environmental sensing.”
The board appointments bring deep photonics sector expertise and come from successful backgrounds running high growth businesses.
Robert Black, an experienced executive and non-executive director in the photonics, IT and robotics industries, joins the company as non-executive chairman. Mr Black was also the CEO of software firm SeeByte, which he grew and exited 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 board is Richard Laming, an academic, founder, executive and non-executive director of technology businesses spanning optoelectronics, MEMS and electronics. He is best known for leading development of the erbium-doped fiber amplifier (EDFA) commercialised by Pirelli and the fibre gratings commercialised by SPI Lasers.
The new board members join 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.”