VC laser company to float

SPI Lasers, formerly known as Southampton Photonics, a UK optical fibre-based laser sources specialist, is to float on the AIM market of the London Stock Exchange.

It was founded in 2000 as a spin-out from the Optoelectronics Research Centre (ORC) at the University of Southampton. In June that year it raised around E45m from Quantum Technology Partners, Interwest Partners and Sevin Rosen Funds, and Amadeus, as well as Marsh & McLennan Capital and the University of Southampton.

It undertook a second round in July 2003 when it raised money from Amadeus, with Advent Venture Partners, the Infrastructure Fund, Interwest, Quantum, and Sevin Rosen Funds.