Maven VCTs invest in 3D photonic device manufacturer Optoscribe
Leading supplier of glass-based integrated photonics components secures £2.8m funding package to increase manufacturing capacity and engineering resource
Maven has invested in Optoscribe, a photonic device manufacturer of high-performance products for optical communications. The deal was led by Scottish investment syndicate, Archangels and supported by Par Equity and Optoscribe’s management team. The £2.8m funding package will facilitate an expansion of the company’s current manufacturing capacity, the hiring of key engineering resource and allow the business to meet the demands of its growing customer base.
Optoscribe’s innovative and proprietary laser direct-write technology produces optical components at a wafer level, primarily for high volume optical transceiver manufacturers supplying the rapidly growing data centre market. The company’s solution enables a simple and precise means of getting light to and from the components within optical transceivers and other photonic integrated circuits. This facilitates transceiver manufacturers to adopt more automated, high volume assembly processes resulting in substantial reductions in overall costs.
Nick Psaila, Chief Executive Officer at Optoscribe, said: “We have delivered significant growth and shareholder value over the past 12 months. We have made good progress strengthening our strategic partnerships and broadening our customer base while concentrating on being designed-in to our customers’ volume products and generating recurring revenue lines for the business. This investment round will enable the company to continue our focussed growth plans and further expand both our manufacturing capacity and engineering resource.”
David Milroy, Investment Director at Maven Capital Partners, added: “We are delighted to have invested in Optoscribe, helping facilitate the expansion of its manufacturing capacity and hiring of new talent. It is an attractive investment proposition – the cloud data centre market is experiencing explosive growth to meet consumer expectations for on-demand, high quality and real-time access to content across a wide range of devices. Our due diligence has confirmed that Optoscribe’s glass-based integrated photonic components offer a unique solution to the challenges faced by the transceiver vendors focussed on this market. We look forward to working with Nick Psaila and his leadership team as they take the business to the next level."