Oxxius secures $10m funding

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Oxxius, a manufacturer of ultracompact lasers, has raised $10m in a second round of equity financing. The round was led by existing investor Sofinnova Partners, which was joined by AXA Private Equity and San Francisco-based Sofinnova Ventures.

'This additional funding will enable us to grow the commercial and industrial operations of the company and consolidate our position of first-tier laser provider to instrumentation manufacturers,' said Thierry Georges, co-founder and CEO of Oxxius.

'The potential we identified in Oxxius in the first round has turned into a major market opportunity backed by a strong and differentiated technology,' said Alain Rodermann, a partner with Sofinnova Partners.

'Our investment philosophy is to support world-class teams. Oxxius is led by a serial entrepreneur and has the talent and dedication to grow into a highly successful venture,' addede Jean-Marc Fiamma, investment manager with AXA Private Equity.

Alain Azan of Sofinnova Ventures concluded: 'Oxxius brings a unique value proposition to the US laser market. Few investment opportunities in European start-ups have excited us as much in recent years.'