Startup closes financing to pursue MidEast deal

July 19, 2002--PurOptix, a privately held company, closed a Series A financing round last week with approximately $3 million invested from venture and individual sources. The financing will provide working capital for the company as it enters a deployment phase with an international telco in Bahrain.

July 19, 2002--PurOptix (www.puroptix.com), a privately held company, closed a Series A financing round last week with approximately $3 million invested from venture and individual sources. The financing will provide working capital for the company as it enters a deployment phase with an international telco in Bahrain.

The financing was led by an internationally focused venture fund and included participation from ALPS Information Technology Fund, LP, a corporate partner, as well as a number of individuals and company associates.

Stan Gafner, CEO of PurOptix, stated, "The immediate focus of the company is our upcoming network deployment in Bahrain. I believe the company is very strong in the midst of our domestic telecom maelstrom and we expect to proceed as planned with our international deployment strategy."

Bahrain Telecommunications Co. (Batelco) has awarded a contract to PurOptix to deliver a turnkey, fiber-to-the-home-and-business (FTTH&B) pilot network for homes and businesses in Bahrain. The full-service network platform was first demonstrated at PurOptix facilities in Carlsbad, CA, in May of this year. Successful completion of the pilot network is expected to lead to additional contracts for high volume deployment of the FTTH&B network throughout Bahrain starting later this year.

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