Crystal IS raises $5 million

Sept. 29, 2004 – Crystal IS Inc., a Watervliet, N.Y.-based supplier of single-crystal aluminum nitride substrates for use in high-power lasers and other optoelectronic devices, announced it has raised $5 million in a Series A round of funding.

Arch Venture Partners led the round, which also included JVP, 3i, Harris & Harris Group and Walt Robb. Arch’s Keith Crandell, JVP’s Zeljka Matutinovic and 3i’s Sean Brownlee joined the company’s board of directors.

Crystal IS was founded in 1997 by Glen Slack and Leo Schowalter, both Rensselaer Polytechnic Institute physics professors and former GE scientists. The company is located in RPI’s incubator center and uses Albany NanoTech for some processing capabilities.

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