Ondax secures Series B financing

30 July 2003 Monrovia, CA Lightwave -- Ondax Inc., developer of holographic optical filters for fixed, reconfigurable, and tunable optical add drop multiplexers (OADM) for DWDM applications, has secured Series B financing led by Gabriel Venture Partners and returning investors Mellon Ventures, CIV LLC, and Alcatel Ventures.

Jul 30th, 2003

30 July 2003 Monrovia, CA Lightwave -- Ondax Inc., developer of holographic optical filters for fixed, reconfigurable, and tunable optical add drop multiplexers (OADM) for DWDM applications, has secured Series B financing led by Gabriel Venture Partners and returning investors Mellon Ventures, CIV LLC, and Alcatel Ventures.

Funding proceeds will be used to generate additional sales and accelerate product development activities.

In November 2002, Ondax commercially introduced what it claims is the first and only high performance tunable filter for test and measurement and DWDM network applications. The company is currently shipping production quantities to a tier one customer. In April 2003, Ondax expanded its line of products to include reconfigurable OADMs (ROADMs) and fixed OADMs (FOADMs). Ondax's manufacturing process enables high volume manufacturing through integration and automation.

"This funding is a strong commitment and testimony to the Ondax team," contends Dr. Christophe Moser, president and co-founder of Ondax. "We have delivered quality products to our customers and are well positioned in an improving market to help network service providers deliver an all-optical network at reduced costs."

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