TeraDiode, a Littleton, MA-based high power laser manufacturer, has closed a $10m Series B venture funding.
The round was led by Argonaut Ventures I, LLC, with participation from Camros Capital, Stata Venture Partners, and others.
Led by CEO Parviz Tayebati, Ph.D., TeraDiode is commercializing high power lasers based on a wavelength beam combining technology, which was pioneered by the company’s co-founders Dr. Bien Chann and Dr. Robin Huang when they were at MIT Lincoln Laboratory. TeraDiode holds the exclusive license for this technology from MIT and is building its own base of innovative intellectual property.
The company intends to use the capital to bring its lasers for industrial and defense applications to market.
In conjunction with the funding, Jason Martin, managing director of Argonaut Private Equity, will be joining TeraDiode’s Board.
The company is currently hiring (http://teradiode.com/company/careers/)
FinSMEs
18/11/2011