UniKLasers Limited, a precision laser manufacturer, has closed a £750,000 financing round led by Par Equity with support from the Scottish Investment Bank.
The investment will enable the firm to expand and upgrade its manufacturing and R&D capabilities, build its global sales and marketing pipeline and increase its workforce.
This expansion will happen under the guidance of a newly-appointed CEO, Alan Faichney, who has been brought in to strengthen the firm’s leadership team. Faichney has previously helped restructure and guide a host of Scottish technology businesses, including Pufferfish, Arrayjet, Silent Herdsman and Edinburgh instruments.
Founded in 2013 by Professor Fedor Karpushko, UniKLasers manufactures high-precision scientific lasers for industrial technology markets such as holography, semiconductor quality inspections, spectroscopy, biomedical research and quantum technologies.
UniKLasers has manufacturing facilities located in Edinburgh, and company sales operations are also run from Edinburgh and Berlin.
Anastasia Bombrys, chief operating officer at UniKLasers, said the new investment round comes at a particularly poignant time.
She said: “This month is a very important milestone in laser history. It marks the 60th anniversary since the invention of the world’s first laser by American physicist, Theodore Maiman.
“The intervening period has seen laser become crucial to manufacturing, engineering and academic research across the world.
“Par Equity’s support in championing the development of young businesses is unrivalled in Scotland. it is a standard-bearer for high growth businesses with exceptional potential and we are delighted to be part of its portfolio.”
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This latest investment round takes the company’s total funding since 2017 to £2.3 million and is the second that Par Equity has made since its recent partnership with British Business Investments through the Regional Angels Programme.
Paul Atkinson, sponsoring partner at Par Equity, commented: “Par Equity first invested in UniKLasers in 2017 and we are delighted to continue supporting the Company as one of the very best high-growth technology startups.
“Through our EIS Fund, our Private Investor Network, our recent tie-up with British Business Investments and with the Scottish Investment Bank we are able to draw on a breadth of firepower for our portfolio.”