M Squared Lasers Secures $6M in Capital
GLASGOW, Scotland, May 3, 2012 — M Squared Lasers has received £3.85 million (about $6.2 million) of growth capital from Business Growth Fund (BGF) to fund its research and development program and its commercial growth.
BFG will take a minority stake in the business and will join M Squared Lasers’ board.
Founded in 2005 by Dr. Graeme Malcolm and Dr. Gareth Maker, M Squared Lasers designs and manufactures lasers and photonic optical instruments for remote sensing, frontier science, biophotonics, defense, microscopy, spectroscopy and metrology applications.
Peter Bordui, the former chairman of Bookham Technology, has joined M Squared Lasers’ board as chairman.
“We are seeing considerable expansion in the potential applications for lasers, not least in the defense and medical industries where detection capability is critically important,” Malcolm said. “For us, this offers real growth potential. BGF’s investment will allow us to further develop our laser technology and fund our sales and marketing efforts.”
For more information, visit: www.m2lasers.com