Raydiance gets $20 million financing boost

  • Manufacturing technician Tom Wuellner cleans a part for the fiber connector of a laser at the laser startup Raydiance in Petaluma, California, on Tuesday, August 14, 2012. (BETH SCHLANKER/ The Press Democrat)

Petaluma laser developer Raydiance on Tuesday said it has raised an additional $20 million, an infusion of money that will allow the 9-year-old company to ramp up manufacturing.

The funding round was led by Samsung Venture Investment Corp., the investment arm of consumer technology giant Samsung Group.

"We are investing in Raydiance to ensure that these solutions are available for a variety of high-volume manufacturing applications," Jay Chong, investment director at Samsung Ventures, said in a statement.

Raydiance has developed a high-power, ultra-fast laser platform that vaporizes matter without generating heat, creating new ways to fashion exotic materials with precision.

"The demand for smaller, smarter devices continues to grow," Chong said. "Raydiance solutions have the potential to significantly improve existing manufacturing processes and to enable exciting new products."

The laser technology is already being used by manufacturing companies to make everything from fuel injectors in car engines to tiny stents that open arteries in the human body.

"The precision and economics possible with Raydiance solutions continue to grab market attention," Dick Pierce, Raydiance president and CEO, said in a statement. "We're discovering new possibilities every day."

Samsung's co-investors for the financing round included existing Raydiance investors Draper Fisher Jurvetson, DFJ-Growth and Greenstreet Partners.

The company has now raised $75 million since its inception, said Bill Peatman, director of marketing. It manufactures its product in Petaluma and began selling its products in 2008, primarily to manufacturers where precision is critical, he said.

"It shoots the light so fast that the material it's hitting doesn't have time to get hot," Peatman said. "So it removes material without damaging the material at all."

© The Press Democrat |  Terms of Service |  Privacy Policy |  Jobs With Us |  RSS |  Advertising |  Sonoma Media Investments |  Place an Ad
Switch to our Mobile View