IPG Photonics Nets More than $100 Million in Investment and Financing
STURBRIDGE, Mass., Sept. 20 -- IPG Photonics Corp. accumulated $80 million during its round of venture capital financing. With its $20 million in debt financing, the company's total amount of funding soared to more than $100 million. Some of the major investors included TA Associates, Merrill Lynch, Robertson Stephens, Winston Partners and the SOG Fund.
Deutsche Bank led the funding for IPG Photonics' German subsidiary in association with WestLB. IPG Photonics and First Mass Bank had agreed upon an initial debt-funding package for the construction of its global headquarters in Oxford, Mass. earlier this year. IPG Photonics is a manufacturer of high-power fiber amplifiers and lasers.
These investments and funds will allow IPG Photonics to continue its fast-paced growth in the US and global markets, and in the areas of research and development, said Valentin Gapontsev, the founder and CEO of IPG Photonics. These investments in our company display the confidence and high expectations of growth in the fiber optics communications sector and the buoyant components market -- and especially for the products manufactured by IPG Photonics.