FOR IMMEDIATE RELEASE,
April 4, 2007
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Middleton, MA (April 4, 2007) - SemiNex Corporation, a provider of state-of-the-art laser diodes for the medical, military and communications markets, announced today that it has completed funding for its first round of expansion financing, led by the eCoast Angels group.
This new funding will allow SemiNex to rapidly advance its business. "We are pleased to have the funding to deploy our technology into these broader markets", stated David Bean, President of SemiNex. "We look forward to filling previously unmet needs for high-power lasers at long wavelengths".
SemiNex was founded in 2003, and has achieved impressive technical results for laser power and efficiency at long wavelengths between 1300 nm and 1600 nm. SemiNex will use the funding to optimize its laser attributes and packaging to suit the needs of its customers in the medical, military and communications applications, as well as broadening its customer base. "We are actively working with customers to design SemiNex technology into next-generation systems", noted Bean. SemiNex laser diodes are smaller and more powerful than traditional lasers, and allow system vendors to design smaller, more efficient systems at a lower cost. "We also see a huge opportunity for SemiNex to enable new applications that were previously not possible with currently available components."
"We are excited to play a role in the company's growth as it exploits its technology in the broader marketplace", stated Michael Marsh of eCoast Angels. eCoast angels was joined by other individual investors and CIV Ventures of New York to complete the funding round. "We are proud to be involved with Seminex as they have focused on a very promising new market for lasers and optics and their team's experience put them in a real leadership position within that market" noted Greg Smith of CIV Ventures.
SemiNex aims to fundamentally transform key industries by displacing conventional laser technology with super-high-power semiconductor diode lasers. SemiNex enables cost-effective laser applications by providing better semiconductor laser performance and efficiency while drastically reducing the laser size and power consumption. This enables lasers to be used more broadly in high-volume applications for medical, military and free space optical communications systems. For more information, see /.
About eCoast Angels
eCoast Angels focus on early-stage companies involved with advanced technology, e-commerce, healthcare, and industrial products and services. Members have invested in several companies since the network's inception in 2000, organizing syndicated angel investment of over $22 Million, driving nearly $50 Million in Venture Capital investment to companies. For more information, see www.ecoastangels.com.