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Crystal IS Raises $10.6 Million in Second Round Financing

Photonics.com
Aug 2006
Crystal IS Inc. has raised $10.6 million in its second financing round. The investor syndicate was led by Lux Capital, with participation by Arch Venture Partners, 3i, Credit Suisse, Taiwanese Linkmore Ltd. and Harris & Harris Group. Founded in 1997, Crystal IS is commercializing single-crystal aluminum nitride (AlN) substrates for the cost-effective production of high power, high temperature and optoelectronic devices such as blue and ultraviolet lasers. In September 2004, Crystal IS raised $5.1 million in its first round of funding to commercialize AIN growth. Earlier this year, the company released its low-defect 2-inch native AlN substrates. Crystal IS was founded in the Rensselaer Polytechnic Institute (RPI) incubator program and recently relocated from the RPI incubator center to the Green Island, NY, technology park.


GLOSSARY
nanotechnology
The use of atoms, molecules and molecular-scale structures to enhance existing technology and develop new materials and devices. The goal of this technology is to manipulate atomic and molecular particles to create devices that are thousands of times smaller and faster than those of the current microtechnologies.
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