Arbor Photonics lands $3 million investment, plans to create 136 jobs

Arbor Photonics is making the most of its $3 million infusion, laying out plans to create 136 new jobs within the next few years. The Ann Arbor-based firm recently received $1.5 million from Michigan’s 21st Century Jobs Fund. That money will complement another $1.5 million from private investors. The 136 new jobs will be quite the jump in employment for the University of Michigan spin-off. As of today only two people work at the start-up. U-M Prof. Almantas Galvanuaskas invented a new way to dramatically improve fiber lasers. Arbor Photonics was created last year to commercialize this technology. The technology is an optical fiber structure called Chirally-Coupled Core Fiber or 3C fiber.  The 3C fiber significantly improves the performance of fiber lasers in industrial manufacturing, a $2 billion market that grows about 14 percent annually on average. About $400,000 in venture capital was invested in the Arbor Photonics last fall. That money allowed the company to hire a CEO and director of business development and recruit other key personnel. The plan is to hit $50 million in sales within the next six years. The company hopes to expand its employee base to 136 by 2014. But for now Arbor Photonics plans to invest the $3 million it just received into further product development over the next year. Source: Michigan Economic Development Corporation Writer: Jon Zemke