This Glasgow company designs and manufactures lasers and photonic instruments, for a diverse range of applications in quantum technology, biophotonics and chemical sensing. Its customers include research institutes at universities such as Cambridge, MIT and Harvard. It was founded in 2006 by Graeme Malcolm, 47, and Gareth Maker, 51, serial entrepreneurs who had previously spun out the optoelectronics firm Microlase from Strathclyde University before selling it to Nasdaq-listed Coherent for £2m in 1999. M Squared had sales of £9.4m this year, aided by £6.3m of funding from the growth capital organisation BGF, which owns a minority stake.
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