Ondax Secures Series C Financing

MONROVIA, Calif., Jan. 27 -- Ondax Inc., a California-based developer of volume holographic filters, announced it has raised Series C funding. The round was led by Los Angeles-based venture capital firm Arcturus Capital, co-led by Park City, Utah-based Prospector Equity Capital and included returning investor CIV LLC and the California Institute of Technology.

Christophe Moser, president and CEO of Ondax, said the investment will enable the company to broaden the commercialization of its PowerLocker series to diverse markets and to increase manufacturing.

"Ondax is a fantastic example of the kind of world-class technology company that we see in Southern California," said Stephen Watkins, General Partner of Arcturus Capital. "Ondax's leadership in the optical component space, combined with its focus on the industrial laser market and the existing management team, create an exciting investment scenario for us. We are thrilled to help them develop their sales and marketing efforts over the next few years, as they will effect a real paradigm shift in the industrial laser market."

"We believe that Ondax and its proven technology will play a crucial role in dramatically accelerating the adoption of cost-effective diode lasers in an increasing number of industrial applications," said David Eastman, a partner at Prospector Equity Capital.

With this round, Watkins and Eastman will become directors of Ondax, along with CIV President Gregory Smith. Prospector Vice President Alison Wistner will join the board as an observer.

Ondax is exhibiting at Photonics West this week.

For more information, visit: www.ondax.com; also see Photonics.com's Photonics West 2005 photo gallery and daily updates.