MINNEAPOLIS, Oct. 5 -- Northstar Photonics Inc. has closed $11 million in new financing with St. Paul Venture Capital as the lead investor. This funding will allow Northstar to complete development and to commercialize its new products based on proprietary rare-earth-doped planar waveguide technologies.
St. Paul Venture Capital, one of the largest early-stage venture capital firms in the United States, led the series B round with an investment of $6 million. All first-round investors including CIT Venture Capital, InnoCal Venture Capital and two strategic partners also participated. The company had previously raised $10 million and it is anticipated that the company will add up to $5 million in additional funding in this current financing series.