BRIEF: Raydiance gets 6 million from venture lender
Feb 05, 2013 (Menafn - The Press Democrat - McClatchy-Tribune Information Services via COMTEX) --Fast-growing Petaluma laser developer Raydiance has landed a 6 million loan from a Connecticut venture lender, the company said Tuesday.
The money from Horizon Technology Finance Corp. will help Raydiance boost production.
"Horizon's flexible structure and efficient loan process, combined with its in-depth knowledge of our business are an ideal fit for Raydiance," William R. Beyer, Raydiance's chief operating officer and chief financial officer, said in a statement. "We will utilize this growth capital to ramp production and meet the strong demand for our precision manufacturing solutions."
In August, Raydiance received a 20 million investment from Samsung Venture Investment Corp., also to increase production.
"We are delighted to provide 6 million in venture debt financing to this innovative technology manufacturing company, which meets our strict investment criteria," said Gerald A. Michaud, president of Horizon.
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