LONDON Single-chip tunable lasers and transmitters specialist Syntune AB has closed a second round of financing valued at $7.1 million almost three years after its financing round that raised about $6 million.
Syntune (Stockholm, Sweden) focuses on widely tunable lasers for applications ranging from fiber-optic communications to sensor systems. In communications, the company's devices are used in Dense Wavelength Division Multiplex (WDM) transceivers.
The B round was led by InnovationsKapital of Sweden. Other investors who participated include Teknoinvest of Norway and U.S. group Vision Capital, as well as existing private investors.
"This round of investment enables us to ramp production more quickly, as well as grow our customer base for both our first generation of tunable products as well as our second generation 10Gbits/second tunable transmitter product," said Patrik Evaldsson, CEO of Syntune.
Earlier this year, Syntune entered into a major manufacturing agreement with Lehigh Valley, Pennsylvania-based CyOptics, Inc., which specializes in Indium Phosphide (InP) optical chip and component technologies.
As part of its formation in 2003, Syntune acquired an exclusive license to a patent on a tunable laser called the modulated grating Y-branch laser. This patent is jointly owned by IMEC (Leuven, Belgium), Ghent University (Ghent, Belgium) and Gayton Photonics Ltd. (Gayton, England).