Swiss company GigaTera Inc. has received an investment of $2 million in venture financing from Cypress Semiconductor and its wholly owned subsidiary, Silicon Light Machines, both based in Sunnyvale, CA.
"This investment and relationship with Cypress/Silicon Light Machines will help us to accelerate the development our first network-deployable product." Claims Andros Payne, CEO of GigaTera. "We are pleased to receive such a strong endorsement of our team and technology from Cypress and Silicon Light Machines, both technically savvy industry players."
"The investment relationship between Cypress/Silicon Light Machines and GigaTera is based on the recognition of a strong set of complimentary skills. There is significant potential for broader cooperation between our organizations in the future," contends Robert Corrigan, Senior Vice-President of Silicon Light Machines. Corrigan will join the GigaTera board as an observer.
GigaTera Inc. is developing components for next-generation optical networks. The company is based near Zurich, Switzerland and has raised $9 million in venture capital to date. For more information, visit the company's Web site at www.gigatera.com.