Eblana Photonics raises €4.5m in funding

Eblana Photonics, the Irish-based provider of advanced laser products for broadband access communications, has announced that the company has secured a $4.5m (€4.2m) investment in a 'Series B' fundraising.

Eblana Photonics, the Irish-based provider of advanced laser products for broadband access communications, has announced that the company has secured a $4.5m (€4.2m) investment in a 'Series B' fundraising.

The latest investment has been led by TLCom Capital Partners, the London-based pan-European venture capital firm specialising in the communications and information technologies sector.

This round brings the total funds raised by Eblana Photonics, founded in December 2000, to $7.75m (€7.2m).

Existing investors, ACT Venture Capital and Enterprise Ireland, also participated in the financing.

Eblana Photonics was set up to commercialise technology developed in a photonics research programme involving Trinity College Dublin, the Irish National Microelectronics Research Centre (NMRC) and Enterprise Ireland.

For new shareholder TLCom Capital Partners, the relationship with Eblana Photonics marks its first investment in Ireland.

Colin Watts, General Partner at TLCom Capital Partners said: "TLCom sees the technology and products being developed by Eblana as key enablers to the emerging optical broadband markets, which will drive the next generation of residential telecommunication services."

The TLCom operates a fund worth €185m and has a strategic co-investment agreement with the private equity arm of Morgan Stanley.

ACT Venture Capital recently announced the establishment of a €170m technology focussed venture capital fund, one of the largest technology focused funds in Europe.

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