INVESTMENT
Eblana scores EUR1.69m in new funds
06-06-2002
by Andrew McLindon
Irish company Eblana Photonics has secured EUR1.69 million in funding, bringing the total it has raised over the last 18 months to EUR3.6 million.
Eblana, a provider of advanced laser communication products, said on Thursday that it secured the additional funding from ACT Venture Capital and Enterprise Ireland. A spin out from Trinity College Dublin, the company's previous investors included Enterprise Ireland, the Irish National Microelectronics Research Centre, and Irish and US private equity sources.
Eblana's chief executive officer, James O'Gorman, told ElectricNews.Net that its most recent funding will allow the company to move its products from the development stage to manufacturing and from there to the market. The company also plans to increase its workforce from 13 to around 40 over the next 18 months.
Established in 2001 by O'Gorman and John Hegarty, who are renowned authorities in the field of laser physics, Eblana designs and develops laser diodes that allow high performance lasers components for broadband communications use to be manufactured economically.
"To date, the manufacturing process for these components has not been amenable to mass production due to its complexity and this has led to the high cost of broadband delivery," said O'Gorman. "However, our technology allows for them to be manufactured at an economic cost profile without a loss in quality, which means that communication service providers can deliver broadband services to enterprises and consumers much more cheaply."
Eblana uses an outsourced manufacturing model using volume scaleable processes already proven in the wider microelectronics industry. The company is currently sampling its technology with potential customers. Its target market is original communications equipment manufacturers.
"Eblana's founders have formed a truly exciting company and have demonstrated an impressive approach in the fusion of world class technology innovation and product development skills, so necessary in making a successful business," said John Flynn, partner at ACT Venture Capital in a statement. "We anticipate that Eblana will become a key player in the global broadband access communications services market, which is only now beginning its roll-out."
Market analysts predict that the market for photonics technology in the communication sector will grow by 47 per annum over the next couple of years and will be worth USD14 billion by 2004.
More information can be found on Eblana Photonics' Web site.
Creating successful email surveys: Denise Cox of email specialist Newsweaver argues that you can tap into your readers' likes or dislikes by surveying them.
