Novera Optics completes $83 million round of funding
Novera Optics, a developer and manufacturer of photonic subsystems for communications equipment suppliers, announced it has raised $83 million in equity and debt in its second round of funding.
Novera Optics' second round of funding was led by Octane Capital Management. Other participants in this round included Agilent Technologies, Amerindo Investment Advisors, Essex Investment Management, Intel Capital, KLM Capital Group, Meritech Capital Partners, and Van Wagoner Capital Management. First-round investors Enterprise Partners and Redpoint Ventures continued their support of Novera Optics by participating in the second round of funding. In addition to raising $53 million in equity investment, the company secured a $30 million lease line from Western Technology Investment.
According to Kirk Flatow, President and CEO of Novera Optics, the funding will be utilized to ramp production of Novera Optics' dynamic gain equalizer, as well as continue the development of additional capabilities in the company's dynamic optical signal processors.
Next generation optical networks will incorporate longer reach, higher data rates, and flexible architectures, placing severe performance demands on the optical equipment employed. Novera Optics is focused on the development of dynamic optical signal processors that will address the challenges created by these new, flexible communications networks. Novera Optics' initial product, a dynamic gain equalizer, employs patented fiber-based acousto-optic technology to provide cost-effective dynamic spectral filtering. Dynamic equalizers can be used in conjunction with optical amplifiers to produce greater network bandwidth and longer fiber optic signal transmissions with less frequent signal regeneration, adding flexibility to the optical layer, thereby reducing cost of network operations.
About Novera Optics, Inc.:
Founded in 1999, Novera Optics (formerly known as Ultraband Fiber Optics, Inc.) is a development stage company headquartered in San Jose, California, that develops, markets, and supports dynamic fiber optic subsystems. For more information, visit www.noveraoptics.com.