Optical Ethernet startup Internet Photonics raises $31 Million

December 14, 2001--Internet Photonics Inc., an early-stage company developing next-generation, carrier-grade Optical Ethernet products has secured $31 million in its first round of funding, led by the Sprout Group, the venture capital affiliate of Credit Suisse First Boston Corporation. AT&T is also an equity holder in the Company.

Internet Photonics Inc., an early-stage company developing next-generation, carrier-grade Optical Ethernet products has secured $31 million in its first round of funding, led by the Sprout Group, the venture capital affiliate of Credit Suisse First Boston Corporation. AT&T is also an equity holder in the Company.

The Company's founding technical team hails from Bell Labs, which has provided equipment, technology, designs, and intellectual property to help launch the Company. Internet Photonics owns or licenses nine pending patents on carrier-grade Optical Ethernet transport and related technologies designed to streamline and accelerate service provisioning while offering size, footprint, power consumption, and capacity advantages over current solutions, claim company representatives.

"Our solutions can be deployed side-by-side with existing optical infrastructure and can deliver initial investment savings of up to 70% over traditional SONET-based solutions without carriers having to replace, upgrade, or change existing equipment," contends Gregory Koss, the President and CEO of Internet Photonics.

Internet Photonics has over 100 employees and has been operating in stealth mode since its inception the fourth quarter of 2000.

Internet Photonics is based jointly in Shrewsbury, NJ, and Marlborough, MA. For more information, visit the company's Web site at www.internetphotonics.com.

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