Princeton Optronics secures $25 million to produce high-power tunable laser

Aug. 20, 2001--Princeton Optronics, Inc., a provider of active components for fiber-optic networks, announced it has closed a second round of financing in the amount of $25 million.

Aug 20th, 2001

Princeton Optronics, Inc., a provider of active components for fiber-optic networks, announced it has closed a second round of financing in the amount of $25 million. Co-led by Investor Growth Capital and St. Paul Venture Capital, this latest funding round also includes investments from Technology Venture Partners and first round investors, Novak Biddle and Intel Capital.

This additional infusion of capital will fund the final development stage of Princeton Optronics' PowerSweep 2000, a high-power, broadly tunable laser, along with the continued expansion of its manufacturing facility. At the same time, the company will further scale operations in support of its 12.5 Gb/s receiver and modulator driver product lines.

Leveraging the company's competencies in high-power Vertical Cavity Surface Emitting Laser (VCSELs), Micro Electro-Mechanical Systems (MEMs) and Radio Frequency (RF) technologies, Princeton Optronics offers a complete component product line to address the needs of equipment manufactures, who are challenged to deliver increasingly smarter networks in a cost-effective manner.

About Princeton Optronics:

Princeton Optronics, Inc., a privately-held company based in Princeton, N.J., provides high-power VCSEL and RF technologies. For more information, visit www.princetonoptronics.com.

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