Ouster Opts for Cuts to Reduce Costs: Week in Brief: 09/23/22 | Business | Sep 2022

SAN FRANCISCO, September 23, 2022 – displacement, a provider of high-resolution digital lidar sensors, has enacted a comprehensive cost-cutting initiative, streamlined its cost structure and expanded its expected cash position. The company is targeting $107 million in gross cash issuance in 2023. This represents a reduction of more than 15% compared to annualized gross cash spend based on Q2 2022. The Company is reducing operating expenses through a budget realignment and an approximate 10% headcount reduction.

GLASGOW, Scotland – Semiconductor technology company III-V Epi produced experimental telecom laser structures aimed at temperature insensitive operation. The epitaxial development was for the University of Surreyfunded by an award from the UK Engineering and Physical Sciences Research Council.

WALTHAM, Mass.— Replicas Corp.a life sciences company focused on leadership in bioprocessing technology, entered into a strategic partnership and exclusive licensing agreement DRS daylight solutions expand the use of mid-infrared technology in bioprocess engineering. Through the agreement, Repligen assumes responsibility for the commercialization of DRS Daylight’s Culpeo spectrometer, as well as for the development of future products and technologies in partnership with Daylight.

SAN MATEO, California — Brelyonthe MIT spin-off developing virtual reality display technology raised $15 million in Series A funding led by Lockheed Martin Ventures and the MIT-affiliated E14 Fund with participation from Corning Inc. , LG Technology Ventures, UDC Ventures and Franklin Templeton.

LEESBURG, Va. — Quantum Computing Inc. (QCI) has launched a subscription service offering businesses access to its Dirac 1 Entropy Quantum Computing (EQC) system. Dirac 1, QCI’s first commercially available photonic EQC system, can solve business problems involving more than 5,000 variables, according to the company.

LOS ALAMOS, NM — UbiQD and SICPA SA expanded its partnership in the development of anti-counterfeit security inks based on UbiQD’s quantum dot technology. The companies have been developing QD-based security features together for the past six years. Having achieved a number of technical milestones in a multi-phase joint development effort, UbiQD and SICPA are now expanding their partnership to commercialize multiple security applications based on the novel properties of UbiQD technology.

A quantum dot ink solution that emits an orange glow when UV excited.  Courtesy of UbiQD, Inc.

A quantum dot ink solution that emits an orange glow when UV excited. Courtesy of UbiQD Inc.

QUEBEC CITY – Airborne optical leak detection company Flyscan systems secured $3.5 million in venture capital funding with strategic investor Hatchm along with BDC Capital’s Cleantech Practice and Enbridge. The funding will allow Flyscan to support the commercialization and expansion of its business as it has commercial agreements with several energy companies in North America.

BALTIMORE — Northrop Grumman opened its Maryland Space Assembly and Test (MSAT) 2 facility on the company’s Baltimore campus. The 55,000 square foot facility will provide a digitally integrated manufacturing, assembly and test center to support customer requirements and the company’s growing space payload and ground systems capabilities.

ROANOKE, Va. — Luna Innovations Inc.a fiber optic-based technology company, has secured a $14.2 million deal with a longtime partner Intuitive Surgery. The agreement provides for the supply of critical photonic subsystems, which will be manufactured by Luna and integrated into Intuitive’s next-generation robotic surgical systems.