GW LaserTech secures nearly RMB100m Series B financing round

GW LaserTech has closed nearly 100 million yuan Series B financing round before the Spring Festival. This round of financing was led by Inspiration Capital, which was founded by partners of former Qiming Venture Partners, Zhang Yong and Yin Ming, and Pegasus Venture Capital participated. The proceeds will be used to expand and improve the 10,000-watt laser product line based on the 976nm technolog

GW LaserTech has closed nearly 100 million yuan Series B financing round before the Spring Festival. This round of financing was led by Inspiration Capital, which was founded by partners of former Qiming Venture Partners, Zhang Yong and Yin Ming, and Pegasus Venture Capital participated. The proceeds will be used to expand and improve the 10,000-watt laser product line based on the 976nm technology.

GW LaserTech’s core competitiveness lies in its proprietary bidirectional 976nm single-cavity high-power pumping, high-brightness single-module laser, and mature 10,000-watt fiber laser technologies. The 976nm technology with a high photoelectric conversion efficiency of more than 40% has a clear competitive advantage on 10,000-watt products.

In addition, the development of 976nm pumping technology is challenging. At present, only a few industry giants such as IPG and Rofin Coherent have made breakthroughs in industrial scale production based on 976nm pumping technology.

The founding team members of GW LaserTech includes PhDs of prestige overseas institutes and senior technical experts, focusing on fiber laser research and development for nearly 20 years. Currently, the company has more than 100 employees, and holds nearly 40 patents.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/gw-lasertech-secures-nearly-rmb100m-series-b-financing-round/.

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