Gigabit Optics Secures $20 Million in Funding Led by Enterprise Partners; Series A Investors Ridgewood Capital and Walden International Participate in Financing.Business Editors/High-Tech WritersSUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 17, 2001 Gigabit Optics Corporation, an integrated photonics company, today announced that it has closed a $20 million Series B round of funding led by Enterprise Partners. Existing investors, Ridgewood Capital and Walden International, also participated in the latest financing. To date, the company has raised $26 million. In related news, Naser Partovi, a managing director for Enterprise Partners, has joined Gigabit Optics' Board of Directors. The company has developed a micro-optical platform that enables a variety of optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. products with substantially smaller form factor and lower cost. Gigabit Optics' micro-optical subassemblies are targeted to transceiver (TRANSmitter reCEIVER) An electronic device or circuit that transmits and receives analog or digital signals. It comes in many forms; for example, a transponder on a satellite, a network adapter in the computer or the circuits in a cellphone. and optical networking system OEMs, as well as optical networking subsystems manufacturers. "The optical components market for the access and metro areas is quickly emerging," said Naser Partovi, a managing director for Enterprise Partners. "With its flexible platform, low production cost and high level of integration, Gigabit Optics is well-poised to lead this industry by speeding time to market for OEMs and manufacturers." The company intends to use the funding to grow its internal operations in key areas such as research and development and marketing. "We're building a solid engineering and marketing team that is addressing the need to build small-size and low-cost optical components for the metro market area," said Jenkin Richard, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder of Gigabit Optics Corporation. "The solid financial backing and industry expertise we have in place will give us a significant advantage in developing and strengthening relationships with system vendors and customers." About Gigabit Optics Gigabit Optics Corporation, an integrated photonics company, has developed a micro-optical platform that enables a variety of optical networking products with substantially smaller form factor and lower cost. The company's micro-optical subassemblies are targeted to transceiver and optical networking system OEMs, as well as optical networking subsystems manufacturers. Founded in June 2000, Gigabit Optics is headquartered in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. and has secured funding from Enterprise Partners, Ridgewood Capital and Walden Partners. Call 408/249-4500; or visit online at www.gigabitoptics.com. About Enterprise Partners Founded in 1985, Enterprise Partners (www.epvc.com) is a venture capital firm investing in privately-held early stage and emerging companies. Enterprise Partners believes in tapping the track record of its own successful entrepreneurial experiences to help other entrepreneurs build lasting businesses. With particular strengths in information technology, communications, healthcare, as well as selected consumer products and services, Enterprise Partners has provided financing, forged successful partnerships and provided the kind of superior management guidance that has made it one of the top-performing venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . With more than $1 billion of capital under active management, Enterprise Partners is an early investor in Rhythms NetConnections Rhythms NetConnections Inc. (Former NASDAQ: RTHM) was in the business of providing broadband local-access communication services to large enterprises, telecommunications carriers and their internet service provider (ISP) affiliates and other ISPs. , Nanogen, Ligand ligand (lĭg`ənd), charged or uncharged molecule with one or more unshared pairs of electrons that can attach to a central metallic atom or ion to form an aggregate known as a complex ion (see chemical bond). Pharmaceuticals and Stamps.com, as well as over 120 other companies. About Ridgewood Capital Ridgewood Capital (www.ridgewoodcapital.com), part of the Ridgewood companies, was founded on Wall Street in 1982 to invest private equity for its base of 4,500 high net worth investors. Ridgewood Capital has invested in a number of optical communications Optical communications The transmission of speech, data, video, and other information by means of the visible and the infrared portion of the electromagnetic spectrum. companies including Aralight, NovaCrystals, Opticalis, Orchid Lightwave, Radiant Photonics, and Akroria. Ridgewood has offices located in Ridgewood, New Jersey Ridgewood is a village in Bergen County, New Jersey, United States. As of the United States 2000 Census, the village population was 24,936. The Village of Ridgewood was created on November 20, 1894, with the same boundaries as Ridgewood Township. and Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. . Walden International Walden International is a leading global venture capital firm, providing early stage technology companies with the advantage of an unrivaled global network since 1987. The firm's international venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: comprise more than US$1 billion in committed capital. Walden International's globally organized network of multi-cultural investment professionals spans the United States, Taiwan, Singapore, Philippines, Malaysia, India, Japan, and China/Hong Kong. For more information, please visit www.waldenintl.com. Note to Editors: Gigabit Optics and the Gigabit Optics logo are registered trademarks of Gigabit Optics Corporation. All other company or product names may be registered trademarks or trademarks of their respective owners. |
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