Boston Financial & Equity announced it recently closed a $600K lease line for manufacturing and production equipment.
Boston Financial said the ten-year old “startup” has been funded since its beginnings by three venture capitalists with over $20 million. The company develops and produces aluminum nitride substrates for ultraviolet LEDs and power supplies.
Boston Financial noted that Although the company is revenue generating, it has accumulated losses of $24 million. They recently signed an agreement with a Japanese manufacturer and the new equipment will reduce the outsourcing costs of both the production and the research.
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