Zurich, July 20, 2009. Heptagon, the world-leader in wafer-scale micro-optics, is announcing today that it has raised over $22m in new equity financing. Most of this financing is coming from a new syndicate led by GGV Capital. GGV Capital is headquartered in Menlo Park, California with a dual focus on US and Asia technology companies and offices in China and Singapore. Heptagon’s current investors, including Innovations Kapital of Sweden, Innovacom of France and Nokia Growth Partners have also participated in this latest round.

“Heptagon has a truly unique and proven value proposition: Optics which are glass-like in quality, being lead-free reflow and Telcordia compatible, but manufactured in the same wafer-scale format as the CMOS image sensor, LED and VCSEL technologies we support. This technology allows us to quickly ramp from several millions to several tens of millions of components per month and enables our customers to benefit from wafer-scale integration of optics with semiconductors,” says Chuck Milligan, Heptagon’s CEO. “This is leading to exponential growth in the demand for our products in applications such as CMOS Image sensing. We have introduced several new products this year, including 2 and 3 megapixel camera lenses. These new products increase our addressable market by an order of magnitude and therefore drive the need for a significant capacity expansion for which part of this new equity investment will be used.”

“We are extremely pleased,” Chuck continues, “to have been able to raise this investment despite the currently challenged investment environment. This is a testament to our strong leadership position in this industry-changing technology. We are also very excited with the quality and commitment of our new investors. GGV Capital and partners have a fantastic track record and will add great experience and knowledge of consumer electronics and Asian manufacturing to Heptagon’s investor base and board.”

Scott Bonham, founder and managing partner of GGV Capital, says ”We believe that wafer-scale optics is a technology whose time has come and which has the potential to revolutionize first the CMOS image sensor market and then other semiconductor photonics markets. Heptagon is the clear leader in this space with several years of volume production with market-leading customers, rapid growth and a very exciting product roadmap. We are looking forward to supporting the Heptagon team in continuing this growth and making wafer-scale optics the dominant optics technology in semiconductor-based opto-electronic modules.”

For further information please contact:

Chuck Milligan, CEO, Heptagon, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

About Heptagon

Heptagon designs and manufactures advanced micro-optics products for OEM suppliers. Heptagon's components are used in many applications including CMOS imaging, LED optics, display, optical communications, consumer electronics and industrial optics. Heptagon is headquartered near Zurich, Switzerland and has its volume manufacturing facility in Singapore.

About GGV Capital

GGV Capital is a leader in expansion-stage venture capital investments in the United States and Asia. Focused on driving expansion-stage innovation worldwide, GGV Capital’s highly diverse team manages over $1 billion from its offices in Silicon Valley, China, and Singapore. The firm invests across a range of sectors in information technology, services and healthcare, as well as the consumer growth sector in China. GGV Capital has provided capital and helped accelerate international expansion for its worldwide portfolio of high-growth companies, particularly in the U.S. and China. GGV Capital’s portfolio includes AAC Acoustic (HKSE: 2018), Alibaba (HKSE:1688), Appirio, BCD Semiconductor, Boston-Power, BCD Semiconductor, Endeca, Inside Contactless, SuccessFactors (NASDAQ: SFSF), Teranetics, and WildTangent. For more information, please visit www.ggvc.com.