Petaluma, Calif. – Raydiance, a Petaluma-based developer of precision manufacturing hardware and software based around laser technology, said on Tuesday it has raised $20 million in a new round of funding, led by Samsung Venture Investment, the investment arm of consumer technology giant Samsung Group. Previous backers Draper Fisher Jurvetson, DFJ-Growth and Greenstreet Partners also participated. The company said it will use the proceeds to accelerate its consumer electronics efforts and ramp up manufacturing to meet increased demand from its medical device, automotive and other manufacturing customers.
http://www.raydiance.com
http://www.businesswire.com/news/home/20120814005463/en/Raydiance-Raises-20M-Growth-Financing-Led-Samsung
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