FRANKFURT, Germany & SINGAPORE -- As planned, Nanostart AG is increasing its stake in Singapore-based Microlight Sensors to 31%. This stems from payment of a second tranche from the round of financing concluded back in 2010. The additional funds will go into commercial expansion, in particular buildup of marketing and sales structures in Asia, seed financing for orders and projects, and development of innovative sensor technologies.
Founded in 2006, Microlight Sensors develops, manufactures, and sells optical systems, instruments, and components for optical sensor technologies. Microlight Sensors' current products make it possible to capture extremely low-intensity light and radiation near the wavelength range of infrared light. They are deployed for civil security and monitoring purposes, across all illumination conditions of the 24 hr. cycle without sensor damage. The sensors deliver equivalent daylight performance during night operations in conditions of extremely low light.
Andreas Kroll, Managing Director of Nanostart subsidiary Nanostart Asia Pte Ltd in Singapore, commented: "We are delighted with Microlight's performance since the initial investment at the end of 2010. With this in mind, we are pleased to be able to build up our stake."
Microlight Sensors targets the domestic security market in the Asia-Pacific region, which is expected to increase by around 8.5% per year. The rapid growth forecast can in part be explained by growing civil security requirements and the prevalence of antiquated systems to be replaced.
Nanostart, the lead investor, is investing in Microlight through the Nanostart Singapore Early Stage Venture Fund. The fund is increasing its stake in Microlight from 19% to around 31%.
Nanostart AG, headquartered in the German financial capital of Frankfurt, is the "world's leading nanotechnology investment company," with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases, with a focus on innovation-driven industries of the future, such as cleantech, life sciences, and IT/electronics. Through its subsidiary Nanostart Asia and venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government.
Microlight Sensors designs, develops, and assembles fully integrated optical sensor and scanning systems for specialty applications in the homeland security and commercial spectral instrumentation systems market. Microlight's unique high-end optical systems are attributed to its proprietary sensor designs and in-house professional team of optical designers and engineers, providing Microlight the capabilities to "tailor-make" optical systems, with strict quality assurance controls for customers. Microlight has developed strong active partnerships with institutions and customers worldwide.