RICHARDSON, Texas, April 16 -- Photodigm Inc., a manufacturer of grating surface-emitting lasers, has received $4.8 million in new equity financing. This equity financing was provided by initial investors including Corning Innovation Ventures, Compass Technology Partners, Arkoma Venture Partners, Triquint Semiconductor and new investors including West STEAG Partners and AMT Capital. "Securing this additional funding in the current economic climate represents a significant achievement and serves as a reaffirmation of Photodigm's value proposition," said John Spencer, president and CEO of Photodigm. "With our unique semiconductor laser architecture, we expect to provide major improvements in the cost and performance of a wide range of photonic devices. This funding allows us to complete the development of initial products and to deliver our vision to our customers."