£1.2m investment for Livingston’s Optoscribe

Livingston-based photonic technology company Optoscribe — founded in 2010 as a spin out business from Heriot-Watt University — has received £1.2 million in investment.

The fundraising was led by Edinburgh-based angel investors Archangels, who provided £825,000.

The investment was supported by Edinburgh venture capital fund Par Equity with £325,000 of investment and Scottish Investment Bank (SIB) which invested £50,000.

Optoscribe has developed unique 3D photonic components for use inside communications systems in the datacoms, telecoms and mobile phone markets.

The technology enables Optoscribe to produce high performance products “that connect optical fibres with arrays of emitters or receivers where space is limited and high bandwidth connectivity is essential.”

Optoscribe has development contracts with technology companies and supplies its products worldwide for research and development purposes.

The new funds will be used by Optoscribe to invest in manufacturing facilities and capitalise on opportunities for its technology, with a particular focus on its FCX product line that is targeted at the data communications market.

Nicholas Psaila, CEO of Optoscribe, said: “This investment round will enable a significant transformation of Optoscribe, allowing the company to substantially increase its capabilities through hiring further experienced staff and an expansion to its manufacturing facilities.

“The investment is a tremendous boost to the company, and we are excited to be embarking on a new phase of growth.”