Novalux gets third-round backing

17 Jun 2002

Novalux of Sunnyvale, California, in the US, has won third-round funding of USD 109 million. Backers include Morgan Stanley Dean Witter, Cisco Systems and Intel.

The company plans to manufacture a new type of surface-emitting laser, the NECSEL (Novalux extended-cavity surface-emitting laser). Compared to edge-emitting pump lasers, the NECSEL emits high-power round beams from the surface, which means that each system can be tested while still on the wafer, thus reducing manufacturing costs, say the company.

"This round of funding will allow us to deliver on our strategic plan," said Malcolm Thompson, CEO of Novalux. The investment will allow an immediate expansion of the company's manufacturing capacity.