Lumentis receives $19 million in second funding round
April 9, 2002--Lumentis AB, a provider of metro DWDM systems, announced additional funding of $19 million. Santec, a manufacturer of DWDM system components and photonic products, has formed a partnership with Lumentis. Further, existing investor Deutsche Bank Industrial Holdings AG has contributed additional funds.
April 9, 2002--Lumentis AB (www.lumentis.se), a provider of metro DWDM systems, announced additional funding of $19 million. Santec, a manufacturer of DWDM system components and photonic products, has formed a partnership with Lumentis that includes a strategic investment, R&D cooperation, and the distribution of Lumentis's metro DWDM products to the Asian market. Further, existing investor Deutsche Bank Industrial Holdings AG, a subsidiary of Deutsche Bank AG in Germany, has contributed additional funds through a mix of financial instruments, which reaffirms its commitment to provide financial backing for Lumentis through to positive cash flow.
"We are pleased to be working with Lumentis AB. This strategic partnership represents an important step to achieve rapid growth in the future," said Dr. Sadamura, CEO of Santec. "We believe that exchanges in our companies' fields of expertise will provide benefit for both companies. Collaborating with Lumentis AB will enable us to decrease the time-to-market of new optical components and optical subsystems for metro-system applications."
"We are committed to Lumentis's success as they offer solutions that will enable carriers to deploy DWDM in metro networks with extremely low initial entry costs," said Olaf Castritius, director of Deutsche Bank Industrial Holdings AG. "Not only does the company provide a new cost-cutting solution with drastically lower operational expenses, but the management team is very strong and aggressive in driving potential sales and partnership opportunities."
The funding will enable Lumentis to continue to focus on sales, partnerships, and customer needs by further developing the functionality of its system architecture, says the company.