NP Photonics Secures $5 Million in A2 Series Funding
July 25, 2005
Tucson, Ariz., July 25, 2005 - NP Photonics, Inc., a leading supplier of single-frequency fiber lasers for optical-sensing applications in the oil and gas, and security/ military markets as well as in medical imaging and general research sectors, announced a Series A2 funding close of $5M (USD). Participants in the funding are Enterprise Partners, La Jolla, CA led by Naser Partovi and Carl Eibl and Sierra Ventures, Menlo Park, CA led by Jeff Drazan. BB&T Capital
Markets|Windsor
Group, Reston, VA, also participated in the funding. Carl Eibl from Enterprise and Jeff Drazan from Sierra will serve on NP's board of directors.
NP Photonics has recently launched a line of high-power (up to 5 watts) single-frequency lasers as well as the narrowest linewidth single-frequency laser (<200 Hz) available on the market. Patrick Edsell, President and CEO said, "We believe that our technology will enable a number of optical-sensing applications that have been in demand for some time, but that haven't had a light source that enabled the systems to meet the customers' requirements. This, in turn, will result in the development of very sizable markets for our products."
About NP Photonics, Inc.
NP Photonics, Inc. headquartered in Tucson, Arizona began in 1998 as a spin-off of the University of Arizona's Optical Sciences Center. Currently NP employs over 35 employees and occupies an 18,000 sq.-ft. state-of-the-art facility.
NP Photonics uses innovative glass and fiber technology to design, produce and deliver a new class of advanced light sources for sensing, medical and R & D markets. The company has developed a broad family of products including narrow-linewidth fiber lasers, ASE sources, fiber amplifiers, and high-power light sources.
About Enterprise Partners
Enterprise Partners focuses investments in early-stage companies where the fundamental technology exists and is ready to move to market. Since 1985, Enterprise Partners Venture Capital has been forging successful partnerships and demonstrating the kind of superior management guidance and growth performance that have made them the largest venture firm in Southern California. They currently have over $1.0 billion in assets under management. More information: www.epvc.com.
About Sierra Ventures
Sierra Ventures is a private venture capital firm focusing its investments across all areas of the Information Technology sectors from semiconductors to enterprise software. They work with entrepreneurs and management teams to originate and build new companies into large, profitable businesses. Sierra Ventures manages eight venture capital partnerships, which together have more than $1.1 billion of committed capital. More information: www.sierraven.com
About BB&T Capital Markets|Windsor Group
BB&T Capital Markets|Windsor Group (BBTCM|WG) is an industry-focused investment bank that provides mergers and acquisitions (M&A), corporate finance, and valuation services predominantly to middle-market clients in the Aerospace/Defense, Government Services, and Communications industries. Their transactions range in size from $10 million to $1 billion, and they have extensive experience with both public and private companies operating in their industry verticals. More information: www.windsorgroupllc.com
For additional information contact:
Pat Edsell
CEO and President
NP Photonics
pedsell@npphotonics.com
Tel. 520 799 7401
Fax 520 799 7403
www.npphotonics.com