Albuquerque, N.M., March 7, 2003. Zia Laser a developer of Quantum Dot (QD) 1310nm and 1550nm semiconductor lasers, has received $5.4 million in Series B equity financing co-led by Prism Venture Partners and the RWI Group. The funding will enable the company to launch commercial volume QD manufacturing and sales.
"The investment is a validation of our innovative technology and ability to execute in a time when raising capital is extremely challenging. Our business strategy and continued low burn rate are critical to the longevity of the company," commented Tom Brennan, President and CEO, Zia Laser.
The company has already begun sampling small quantities of its laser technology to customers and recently received ISO 9001:2000 National Quality Assurance certification. "Series B financing was essential for enhancing our ability to manufacture high volume QD material, strengthen our partnerships with outsourced vendors and meet the needs of our customers," said Joseph Dixon, Zia's Chief Operating Officer. "Zia prides itself on providing high-performance 1310nm Uncooled DFB lasers that exceed the performance currently available in QW technology."
William Seifert, General Partner of Prism Venture Partners commented, "Both our initial and subsequent investments in Zia were based on the market-leading technology and tremendous opportunity of Quantum Dot technology." Bill Baumel, Managing Member of RWI Group added, "Zia is clearly the market leader in Quantum Dot technology and will enable low-cost, high-performance solutions not currently possible with existing Quantum Well (QW) laser technology to the optical components industry."
For more information, visit: www.zialaser.com .
Laser Focus World