Fusion Optix Closes $3.5M Series D Investment Round
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June 27, 2012... Woburn, Massachusetts USA – Fusion Optix, Inc. announced today closure on a $3.5 Million Series D funding round. The round was over-subscribed and limited only 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.”
About Fusion Optix
Fusion Optix is focused on technologies that reduce energy consumption and improve light control in markets such as lighting, displays, signage and solar energy. Our patented CORE™ platform of innovations covers materials, components and new product designs. Our customers include some of the world’s most recognizable brands and we are inside products used every day in business, industry and the home, as well as in demanding scientific, medical, military and aerospace applications. Our company headquarters is in Woburn MA. We are a privately held company with international investors that include Goldman Sachs and Prudence Capital. Fusion Optix was recently recognized as one of the Top 100 Most Innovative Technology Companies in the Americas by Red Herring.
Michael Georgalis L.C.
Tel: +1 781 995 0805
Fusion Optix, Inc.
19 Wheeling Avenue
Woburn MA 01801
Web Site: www.fusionoptix.com