The local photonics systems company said it was promoting its chief operating officer Michael Gassewitz to the role of president. Wes Biggs, the company's CEO, will become the company's chairman of the board.

Gassewitz says his role will expand to cover the company's sales department in addition to his day-to-day tasks as the company's COO. Biggs will take on the role of continuing communications with Meriton's chief investors. The company plans to secure a series B round of financing before year's end.

Also Tuesday, the company announced that it has opened a sales office in Bristol, U.K.

Gassewitz says the company has good traction with its customers and expects to see revenues for its products late this year or early next year.

Last September, the company secured $29 million in VC funding. In January, it added to the round to the tune of $7.85 million.