Industrial laser developer KMLabs has raised $5.5m in an Intel Capital-led series A round that represents its first external funding.
Kapteyn-Murnane Laboratories (KMLabs), a spinout of Colorado University that is developing industrial lasers, has secured $5.5m in a series A round led by semiconductor technology provider Intel.
Intel’s corporate venturing unit, Intel Capital, was joined in the round by local investor Colorado Impact Fund. Despite being founded in 1994, this is the first venturing round for the Boulder-based company.
The round will be used to expand KMLabs’ high-performance laser manufacturing capabilities and accelerate product development. Its technology is being developed for use in both scientific and commercial applications.
In a statement, KMLabs said: “The company is working to put state-of-the-art ultrafast research tools into the hands of leading scientists worldwide and has gained the attention of system manufacturers in several industries who hope to partner with the company to commercialize their next-generation technologies.
“This investment will enable the business to begin expansion into one or more attractive commercial markets.”
– A version of this article first appeared in our sister publication, Global University Venturing.
