BTI Photonics raises $10.4 million in series B financing

January 16, 2003--BTI Photonics Inc., provider of optical transport link systems, today announced the closing of its series B financing round, raising $10.4 million.

BTI Photonics Inc., provider of optical transport link systems, today announced the closing of its series B financing round, raising $10.4 million.

The round was led by VenGrowth Capital Partners Inc. and included existing investors BCE Capital, Kodiak Venture Partners, Lucent Venture Partners, and Primaxis Technology Ventures. This brings BTI's total funds raised to $20.4 million.

Funds from this latest round will support the commercial launch of the company's Optical Link System (OLS) technology and accelerate the growth of a strong sales and marketing presence in North America, Europe, and Asia.

"BTI's most recent funding is a testament to the company's ability to turn a difficult market environment to its advantage," asserts Ilan Carmi, partner with Kodiak Venture Partners. "By re-inventing itself, the company found a way to not only survive but also flourish in the regional metro area network space."

BTI offers what it claims is the first independent solution to address the need for agile link capabilities in DWDM and CWDM networks. The OLS fundamentally improves how links will be deployed and remotely managed in optical networks, say company representatives. BTI's OLS replaces older fixed link designs with a flexible, intelligent, and fully integrated link system.

For more information about BTI Photonics Inc. (Ottawa, Ontario), visit the company's Web site at www.btiphotonics.com.

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