Suzhou Everbright Photonics, a China-based laser technology developer backed by photoelectronic instrument producer Up Optotech, has raised $22m in its series B round, China Money Network reported on Friday.

The funding was supplied by SDIC Venture Capital, part of government-owned investment holding group State Development and Investment Corporation, as well as Suzhou Chengxin Venture Capital and an unnamed venture capital fund managed by Chinese Academy of Sciences.

Founded in 2012, Everbright Photonics develops high-powered diode lasers for a wide range of uses including industrial processing, printing and medical and scientific research. It received an undisclosed amount of funding from Up Optotech in 2012.

The series B cash will allow the company to boost its manufacturing capabilities as it looks to develop and mass produce a direct semiconductor laser and a vertical-cavity surface-emitting laser radar chip, which would have applications in areas such as fibre optic communications.

– The original version of this article appreared on our sister site, Global University Venturing.

China-based semiconductor laser developer Suzhou Everbright Photonics has raised $22m in a series B round that featured an unnamed venture capital fund managed by Chinese Academy of Sciences, China Money Network reported on Friday.

The round also featured government-owned investment holding firm SDIC Venture Capital and Suzhou Chengxin Venture Capital.

Founded in 2012, Everbright Photonics develops high power diode lasers for a wide range of sectors – beauty, medical, graphics, science and industrial.

The money will allow the company to boost its manufacturing capabilities and to develop and mass produce a vertical-cavity surface-emitting laser radar chip, which has applications in areas such as fibre optic communications, and a direct semiconductor laser.

The company previously obtained an undisclosed amount from photoelectronic instruments producer Up Optotech in 2012.