S-Group Capital Management, the investment fund backed by Alexey Mordashov (major shareholder of Severstal Group), led a EUR 8.6 million Series C investment in Innolume, a provider of ‘quantum dot’-based diode lasers and laser modules, announced the company on its corporate web-site. The other new and existing investors in the round included Applied Ventures, NRW.BANK, PEPPERMINT. Financial Partners, S-VentureCapital Dortmund, Robert A. Young and Juergen Kurb.
Innolume was founded in 2003 and is located in Santa Clara, California and Dortmund, Germany. The technical team of Innolume includes three PhDs from the Ioffe Physico-Technical Institute in St. Petersburg, Russia.
Innolume offers the lasers and broadband light sources that cover the 1000 nm to 1320 nm optical spectrum based on its proprietary technologies of ‘quantum dots’, which is outside the range of conventional semiconductor laser technology. Innolume‘s product list includes epitaxial wafers, laser diode chips/bars, and fiber-coupled modules.
The company previously raised EUR 11 million including EUR 4.4 million in Series A round led by PolyTechnos Venture Partners in 2003 and EUR 6.5 million in Series B round led by NRW.BANK in 2006.
S-Group Capital Management is backed by Alexey Mordashov, CEO and major shareholder of Severstal, an international, vertically integrated steel producer with a listing on the RTS and the London Stock Exchange. Severstal has a successful track record of acquiring and integrating high-quality assets in North America and Europe. Severstal produced 17.5 million tons of steel generating revenues of $15.2 billion and EBITDA of $3.7 billion in 2007.
S-Group Capital Management seeks investments in Russia, the U.S., and Europe from venture capital in high technology companies to developing strategic partnerships with international conglomerates in Russia. S-Group Capital Management has recently agreed with TUI Travel to jointly develop TUI Travel‘s leisure tourism business in Russia and CIS countries.