Ouster Opts for Cuts to Reduce Costs: Week in Brief: 09/23/22

Photonics.com
Sep 2022SAN FRANCISCO, Sept. 23, 2022 — Ouster, a provider of high-resolution digital lidar sensors, enacted a comprehensive cost reduction initiative, streamlining its cost structure and extending its expected cash runway. The company is targeting $107 million in gross cash to be spent in 2023. This represents a reduction of more than 15% compared to annualized gross cash spent based on the second quarter of 2022. The company is reducing operational expenditures through budget realignment and an approximately 10% workforce reduction.

GLASGOW, Scotland — Semiconductor technology company III-V Epi produced experimental telecom laser structures targeting temperature-insensitive operation. The epitaxy development was for the University of Surrey, funded by an award from the U.K.’s Engineering and Physical Sciences Research Council.

WALTHAM, Mass. — Repligen Corp., a life sciences company focused on bioprocessing technology leadership, entered into a strategic partnership and exclusive license agreement with DRS Daylight Solutions to expand the use of mid-infrared technology in the bioprocessing. Through the agreement, Repligen will assume responsibility for the commercialization of DRS Daylight’s Culpeo spectrometer as well as development of future products and technologies in partnership with Daylight.

SAN MATEO, Calif. — Brelyon, the MIT spinoff developing display technology for virtual reality, raised $15 million in series A financing led by Lockheed Martin Ventures and the MIT-affiliated E14 Fund with participation from Corning Inc., LG Technology Ventures, UDC Ventures, and Franklin Templeton.

LEESBURG, Va. — Quantum Computing Inc. (QCI) launched a subscription service that provides enterprises with access to its Dirac 1 Entropy Quantum Computing (EQC) system. Dirac 1, QCI’s first commercially available photonic EQC system, can solve business problems with more than 5000 variables, according to the company.

LOS ALAMOS, N.M. — UbiQD and SICPA SA expanded their partnership in the development of anti-counterfeit security inks based UbiQD’s quantum dot technology. The companies have been co-developing QD-based security features for the past six years. Having completed a number of technical milestones in a multiphased joint-development effort, UbiQD and SICPA are now expanding their partnership to commercialize several security applications based on the novel characteristics of UbiQD’s technology.

A quantum dot ink solution emitting an orange glow under ultraviolet excitation. Courtesy of UbiQD Inc.

QUEBEC CITY — Airborne optical leak detection company Flyscan Systems secured $3.5 million in venture capital financing with strategic investor Hatchm, together with BDC Capital’s Cleantech Practice and Enbridge. The funding will enable Flyscan to support commercialization and scaling up its operations as it has entered commercial agreements with multiple energy companies in North America.

BALTIMORE — Northrop Grumman opened its Maryland Space Assembly and Test (MSAT) 2 facility at the company’s Baltimore campus. The 55,000-sq-ft facility provides a digitally integrated manufacturing, assembly, and test hub to support customer needs and the company’s growing space payload and ground systems capabilities.

ROANOKE, Va. — Luna Innovations Inc., a fiber optic-based technology company, inked a $14.2 million contract with long-standing partner Intuitive Surgical. The agreement provides for the supply of critical photonic subsystems manufactured by Luna and incorporated into Intuitive’s next-generation robotic surgical systems.

More news & features