nLight Corp. announced that it has received $10.7 million in the first closing of a new equity financing. The company will use the new growth capital to drive continued product development of integrated laser modules and increase sales in its core industrial,
defense, and medical markets. Continued investment came from existing venture investors Oak Investment Partners, Mohr Davidow Ventures and Menlo Ventures.
"Despite the world-wide downturn, we finished 2008 with record bookings. We see multiple opportunities for continued strong growth as our industry continues to consolidate and high-power semiconductor lasers continue to expand in new applications," said Scott Keeney, CEO of nLIGHT.
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