R&D and innovation news: Coherent Solutions completes $3M funding round

Coherent Solutions, an Auckland, New Zealand-based provider of high-end testing equipment for the optical telecommunications market, completed a $3m Series A funding.

The round was led by New Zealand’s Punakaiki Fund with participation from K1W1, NZVIF, and Auckland University’s Inventors Fund. In conjunction with the funding, Iannick Monfils and Lance Wiggs from Punakaiki Fund will join the board.

The funding will be used to accelerate the development of products for these partnerships and to increase sales capacity.

Led by co-founder and CEO Andy Stevens, Coherent Solutions develops and manufactures advanced test & measurement solutions for the optical communications market – a core technology of the global internet.

In 2018 the company will launch a series of new products with two new strategic partners, opening new markets and creating opportunities for significant revenue growth.

Coherent Solutions intends to add an additional two Independent Directors over the next few months.

Coherent Solutions is a significant client of the resources guys for whom we have assisted to secure significant grant funding from Callaghan Innovation. If you would like assistance securing Callaghan Innovation R&D grants, please give the resources guys a call.