May 24, 2005 Ottawa, Canada -- Tropic Networks, supplier of regional and metro-area optical networking equipment, today announced it has secured an additional $33 million in equity and $15 million in operating capital financing.
JPMorgan Partners, Narra Venture Capital, Dynamic Venture Opportunities Fund, CrossBridge Partners Fund, VentureLink Fund, and The Bank of Nova Scotia--along with Tropic's current list of investors--participated in the round.
JPMorgan Partners is the lead investor. The operating capital facility was provided by Silicon Valley Bank.
Tropic Networks delivers next-generation reconfigurable optical add/drop multiplexer (ROADM) platforms that enable service providers to build intelligent core optical networks for the delivery of data, voice, and video services. The company's flagship product is the reconfigurable TRX-24000 metro-DWDM transport platform, integrated with Wavelength Tracker optical layer intelligence technology. Wavelength Tracker technology delivers SONET-like performance management, wavelength identity, path trace, automated power management, sectionalization and fault isolation to the optical layer.
The company has been shipping generally available products for revenue since early 2004. Tropic representatives report that the company has secured channel partners in key markets and experienced real-world deployments and steady growth over the last year.
"The Tropic team has successfully combined market vision with innovative technologies to deliver a highly differentiated optical platform that enhances the capabilities of its customers' networks," contends Jeff Logan, principal, JPMorgan Partners. "Tropic Networks has emerged as a forerunner in the growing metro optical networking space and is expanding its market opportunity by providing solutions to both the telecom and cable sectors, for high bandwidth IP service delivery, including Video on Demand and IPTV."