m2fx adds $3 million in new funding

Pushable fiber-optic cable technology developer m2fx says it has closed a $3 million (£2 million) funding round, led by existing investor Linnaeus Capital Partner B.V. The company will use the money to boost sales and expand its customer base, particularly in the fiber to the premises (FTTP) applications.

m2fx says its Miniflex range of fiber cable, microduct, and protection tube products has been used in more than 25,000 FTTP installations around the world, a figure that is growing at 1500 each month. Its customer roster includes such Tier 1 carriers as AT&T and BT. The company believes it is well positioned to take even more advantage of the growing deployments of FTTP broadband access networks. The use of its pushable fiber can reduce installation costs by up to 50% in developed markets, the company asserts.

The company also is active in the data center, automotive, and aerospace/defense markets.

“Our technology delivers competitive advantage to organizations where it matters – bringing down the cost of installing vital fiber-optic networks through our tough, light, ultra-flexible design,” said Joe Byrne, CFO, m2fx. “This additional investment from Linnaeus Capital demonstrates its commitment to m2fx and belief in our strengths. We can now expand our sales efforts across the globe and provide the benefits of our Miniflex products to companies across even more countries and markets.”

“The need for ultra fast information is driving global demand for fiber-optic networks across a wide range of industries,” said Tom Carpenter, CEO, m2fx. “We are already widely recognized for the benefits that our Miniflex products deliver and this new funding will enable us to take the company to the next level, exploiting this significant and growing market opportunity.”

For more information on fiber cable and suppliers, visit the Lightwave Buyer’s Guide.