$1.25 million in seed funding for photonics

Kadence Photonics has received its first equity investment from private and venture capital investors totalling $1.25 million with the option of a further $1.25 million in 9 months time should it be required.

The company specialises in the fabrication of photonics subcomponents and automation systems, and was initially supported by Australian Photonics as part of the Australian Photonics Cooperative Research Centre activities.

Initial assistance from AusIndustry's COMET Program, and loans from the Photonics CRC and Redfern Photonics have enabled the company to commercialise its intellectual property and attract seed finance. Located in the photonics precinct at the Australian Technology Park in Sydney, Kadence has already attracted inquiries from prospective clients around the globe.

"We are delighted to welcome Australian Photonics, CVC Biz-Vision, Warman Investments and Dr Betts as shareholders in Kadence Photonics. This new investment will provide manufacturing and production facilities and marketing," said Anthony Yopp, CEO of Kadence.

"Manufacturing remains the single largest challenge for the optical components industry," said Professor Mark Sceats, Executive Director of Australian Photonics. "Kadence has smart automation systems that revolutionise photonics production processes, reducing the cost of its products and increasing their quality".