Waveguide Solutions Inc., a Charlotte, N.C.-based developer of printed monolithic optical circuits, said it has completed an initial close on its Series B found of funding.
The round was lead by Southeast Interactive Technology Funds of Raleigh, N.C., and Academy Venture Funds of Raleigh and Charlotte. Waveguide anticipates that additional financial and strategic investors will participate in this round.
The amount of the round was not released.
Proceeds will be used to support continued product development based on the company's innovative technology, which enables printing of passive and active optical circuits onto semiconductor devices.
With this funding, the company will continue development of its wafer-scale micro-lens technology that provides "dramatically lower cost lens solutions for VCSEL and LED manufacturers," according to a company statement. Waveguide said it will also continue development of its fully integrated waveguide amplifier circuit, which will serve as a platform for a new generation of low cost, monolithically integrated circuits with passive and active capabilities.
Waveguide is a spin-off company from the University of North Carolina at Charlotte. Waveguide's technology promises to change the way both passive and active optical components are manufactured and deployed in everything from metro optical networks to lab-on-a-chip medical applications, officials added.
Images
