The Edinburgh-based laser company will use the funding to expand their workforce, particularly within its manufacturing and R&D divisions. 

Chromacity develop ultrafast fibre lasers for a wide range of scientific and industrial applications, targeting a rising global demand for laser technology. 

Shadida Imani, CEO of Chromacity, has said, “This new funding will enable us to expand our team and accelerate Chromacity’s growth, both commercially and technologically.

“We’re delighted that our existing investors have continued to support us in our mission to revolutionise fundamental research and industrial applications with a new generation of affordable ultrafast lasers.

“It’s also a great pleasure to welcome ESM, who will be a key investment partner in our future success.”

Imani reports that interest from major industrial companies based in Asian countries, such as China and Japan, will be a priority for Chromacity’s new funding budgets.

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The Scottish team is among the first to develop a remote installation method for its optical parametric oscillators (OPOs), to counteract challenges faced by the Covid pandemic. 

The company is among the first to achieve this installation methodology for these complex optical systems, enabled by its novel, IP-protected laser architecture and manufacturing expertise.

This has supported Chromacity in its acquisition of new customers across the world during the pandemic, and the funding will be used to accelerate this activity, particularly in Asia.

Ian Stevens, Chromacity’s non-executive chairman, said that the company is an example of an innovative business model that demonstrates how disruptive technology is not needed to drive ultrafast laser applications. 

Stevens says, “With this funding round, the company’s investors, both new and old, have recognised these qualities and the significant opportunity that exists to bring ultrafast laser technology into new, and as-yet untapped, markets.”