Fusion Optix, Inc. has raised $3.5 Million from Series D funding round that was exclusive to existing investors in the company. The investment also marks the conversion of some debt to equity in the company. The proceeds from the funding round will be used to ramp-up in-house production capacity and expand the Company’s research and development and patent activities.
Dr. Terence Yeo, Fusion Optix’s Founder and CEO comments, “This investment marks a very significant step forward for the company. We are extremely happy and proud of the progress Fusion Optix has made since before the start of the global financial crisis in the fall of 2008. The company has grown rapidly and is now profitable and in excellent health. Innovation is in our DNA and over the past few years we have continued to develop great new technologies and product ideas to the extent that the company now holds more than 80 U.S. and international patents. The future really is very exciting and this investment underlines the great potential we have, and the faith and confidence our early investors have in the prospects of the company and its team.”
In addition Dr. Yeo adds, “With this investment we intend to quickly add to our in-house manufacturing and rapid prototyping capabilities. The markets we serve are incredibly fast moving and competitive. Our customers expect us to increase our capabilities and capacity and offer continuing improvements in performance and cost down. We hope this investment sends a positive signal to all our customers that we intend to do whatever we can to keep enabling adoption of new technologies that provide performance and energy savings around the globe.”
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