Finance company closes $6M growth financing with Raydiance
Loan will be used to ramp production and meet strong product demand.
Farmington, CT and Petaluma, CA - Horizon Technology Finance Corp. has closed a $6 million venture loan facility with Raydiance Inc., a provider of femtosecond laser-based, precision manufacturing solutions for the medical, automotive, and consumer electronics markets. The proceeds of the venture loan will be used to support Raydiance's continued growth.
Raydiance COO CFO William R. Beyer said that the company will "utilize this growth capital to ramp production and meet the strong demand for our precision manufacturing solutions."
"Raydiance is an exciting addition to our quality loan portfolio," said Gerald A. Michaud, president of Horizon. "The company has developed an ultrafast laser technology platform for a number of high-volume production applications that help dramatically improve existing manufacturing processes and enable new advanced products. We are delighted to provide $6 million in venture debt financing to this innovative technology manufacturing company, which meets our strict investment criteria."
Horizon Technology Finance is a specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and clean-tech industries.
Raydiance develops and produces precision manufacturing solutions enabled by femtosecond laser technology. Raydiance's solutions feature ready-to-integrate hardware and software packages that address most demanding, high precision manufacturing challenges delivering value to customers in the medical, industrial and consumer electronics markets.