K2 Optronics raises $29 million in second round financing

Mar. 15, 2001--K2 Optronics, Inc., a provider of intelligent optical components and subsystems, announces the receipt of $29 million in second round venture capital financing. Investment in K2 Optronics now totals nearly $40 million.

K2 Optronics, Inc., a provider of intelligent optical components and subsystems, announces the receipt of $29 million in second round venture capital financing. Investment in K2 Optronics now totals nearly $40 million. Leading investment firm, Bessemer Venture Partners, headed the investment round, along with major participation by Global Technology Group and Intel Capital. The round also featured proportional investments from first-round financing participants: Alloy Ventures, Sutter Hill Ventures, JAFCO American Technology Fund, The Photonics Fund, and Advent Ventures (UK).

In addition, K2 Optronics also has obtained a $4.5 million capital equipment lease line from GATX Ventures and Silicon Valley Bank.

The new funds would be earmarked for product development and manufacturing expansion. The company's goal is to become a major supplier of active and passive optical solutions.

K2 will be making its introductory appearance at OFC in Booth #2597, March 19-21, Anaheim, Calif.

About K2 Optronics:

Founded in April 2000, K2 Optronics Inc. designs, manufactures, and markets integrated active and passive optical components and subsystems for the telecommunications industry. The company is leveraging its expertise in micro-optics design, optoelectronic packaging, and subsystem-level integration to develop products that enable dynamic provisioning, routing, and control of wavelengths in next-generation all-optical networks. For more information, visit www.k2optronics.com.

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