Nova Crystals raises USD 31 million

17 Jun 2002

Nova Crystals of San Jose, California, in the US, has raised just over USD 31 million in its latest round of fund raising. The company, which recently claimed to have made the world's first practical, electrically-pumped vertical-cavity surface-emitting laser (VCSEL) operating in the crucial 1.3 µm telecoms window, will use the cash to expand its chip-making capacity.

Yet to roll out any products, Nova Crystals says that pilot units will be made available for sampling and testing later this year.