Initial seed funding and working capital was provided by its founder, Dr. Terence Yeo. Series A and Series B investment rounds quickly followed, closing in December 2004 and November 2005 respectively. Funds were provided by a prominent group of independent private equity investors from Boston and Philadelphia. View Press Release.
Fusion Optix subsequently closed its first institutional round, Series C, of investment in May 2006 with investments from Goldman Sachs (London) and Global Investment Holdings (Taipei), via their technology venture capital arm Prudence Capital. This investment followed successful manufacturing trials and the start of the company’s sales ramp. View Press Release.
An insider convertible debt round injected a further $1.7M in between January 2008 and July 2008, positioning the company for growth and scale-up.
In 2012, following placements on Red Herring’s Top 100 Americas Tech Startup awards and Inc. Magazine’s 5000 fasted growing companies list, Fusion Optix completes a Series D investment round, netting a total of $3.8M. View Press Release.
In September of 2012, the MassDevelopment’s Emerging Technology Fund awards Fusion Optix $1.5M to keep up with production demands in an expansion that supports employment for many of the 30 Massachusetts supply-chain businesses associated with FO. View Press Release.