AXSUN Technologies, a developer and manufacturer of photonic subsystems for optical equipment suppliers has announced the closing of a $111 million round of financing. AXSUN has pioneered the production of hybrid photonic products using an integration platform that enables fiber optic equipment suppliers to install smaller, more cost effective and reliable photonic subsystems.
AXSUN will utilize this funding to expand manufacturing capacity, and to develop its next generation of photonic subsystem products. Oppenheimer Funds led the round, with the Scudder Technology Innovation Fund, the Dreyfus Premier NexTech Fund, Agilent Technologies, Amerindo Investment Advisors, Analog Devices, Deutsche Banc Alex Brown, Wit Soundview, and others joining as new investors in the company.
Investors from AXSUN's previous financing rounds including Vantage Point Venture Partners, Goldman Sachs, Ray Stata, Pivotal Asset Management, Prism Venture Partners, Bowman Capital Management and others also participated in this round of financing. In addition to raising $101 million in equity investment, the company also secured a $10 million capital equipment loan from Silicon Valley Bank. AXSUN has raised a total of $157 million in debt and equity financing since its inception in February of 1999.
About AXSUN Technologies:
AXSUN Technologies, established in 1999, has developed a photonic packaging platform capable of integrating nearly any combination of optical devices. The company applies this platform to the manufacture of a new class of photonic subsystems including high-performance optical performance monitors.