Lynx Photonic Networks secures $30 million in mezzanine funding round

Lynx Photonic Networks announced that it has closed a $30 million mezzanine financing round. Lynx develops patented, high-reliability optical communications switching modules and sub-systems.

Lynx Photonic Networks announced that it has closed a $30 million mezzanine financing round. Lynx develops patented, high-reliability optical communications switching modules and sub-systems.

Lynx's Photon.XXTM range of planar waveguide photonic switch arrays, which have no moving parts, include built-in dynamic light energy management (i.e., all-optical switching plus variable optical attenuation) and support multicast and broadcast optical transmission used for optical virtual private networks (OVPN) and all-optical network restoration.

The round was led by San Francisco-based Van Wagoner Capital Management, a multi-billion dollar growth fund manager that has developed expertise in the optical space. Lynx also announced the addition of two new major strategic investors: ADC Telecommunication, Inc. and Enron Broadband Services, a wholly owned subsidiary of Enron Corp. Enron Broadband Services is a provider of high-quality, high-bandwidth delivery and application services while ADC Telecommunication has firmly established itself as a preeminent broadband communications equipment manufacturer. Previous financial investor Telesoft Partners, a Silicon Valley venture firm, also invested in the new round, as did strategic partner Infineon Ventures. The financing was managed by Morgan Stanley Dean Witter who also invested in the round.

This financing, which adds to $28 million previously raised, fully funds the launch of the company's Photon.XXTM and development of the Packet.XXTM all-optical switch modules and sub-systems. It will also accelerate the growth of Lynx's infrastructure, and continue the expansion of its Israel-based R&D subsidiary.

Lynx Photonic Networks recently announced the Photon.8x8 intelligent all-optical photonic switch as ready for market in the first quarter of 2001. The patented Lynx Photon.8x8 offers advanced, built-in features such as reconfiguration time, power control and weighted multicasting, mandatory for enabling the next generation "network-aware" optical networks. The switch, based on field-proven silica-on-silicon technology, has a switching time already less than 2ms.

About Lynx Photonic Networks:

Lynx is an Intelligent Optical Network (ION) Subsystems Company with its own patented optical planar waveguide switching technology. The company is based in Southern California, with a fast-growing R&D facility in Israel. Its flagship product is the Photon.8X8 intelligent all-optical switch array module, with network-aware millisecond performance.

More in Business