September 13, 2011 – BUSINESS WIRE — Nanostart AG (OTCQX:NASRY) is progressing in its planned stake increase in Microlight Sensors, now holding 31% of the optical sensor maker.
Nanostart, the lead investor, is investing in Microlight through the Nanostart Singapore Early Stage Venture Fund. The fund is increasing its stake in Microlight from 19% to around 31%.
The share increase is the result of a second tranche payment, from a financing round held in 2010. Microlight Sensors will use the funds for commercial expansion: building its Asian marketing and sales structures up, financing orders and projects, and developing sensor technologies.
Microlight Sensors has been operating for 5 years. The company develops, manufactures, and sells optical systems, instruments, and components for optical sensor technologies. The technologies capture extremely low-intensity light and radiation near the wavelength range of infrared light for civil security and monitoring purposes.
Microlight Sensors targets the domestic security market in the Asia-Pacific region, which is expected to increase by around 8.5% per year.
Microlight Sensors designs, develops and assembles fully-integrated optical sensor and scanning systems for specialty applications in the homeland security and commercial spectral instrumentation systems market.