GLASGOW, Scotland Intense, the developer and manufacturer of optical components and modules, has raised a further £5 million (US$9.2 million) in funding.
All the company's financial investors – 3i, ACT Venture Capital, Alice Ventures, Cazenove Private Equity, FNI Venture Capital and TTP Ventures – are taking part in the latest round.
The additional funds will allow the company to expand its project-based business as ell as adding more optical semiconductor fabrication capital equipment, particularly for module packaging.
Intense is currently generating revenues from defence, printing and telecoms sectors for products based on its quantum well intermixing (QWI) process.
Two previous funding rounds raised over £21 million pounds and staff levels have increased over the last year to handle project work to produce a headcount of over 70.