Proximion secures $10 million for optical monitoring offering

Oct. 17, 2001--Proximion Fiber Optics AB, a supplier of in-fiber-intelligence for safeguarding and enhancing the performance of optical networks, has secured its second round of private financing totaling $10 million.

Proximion Fiber Optics AB, a supplier of in-fiber-intelligence for safeguarding and enhancing the performance of optical networks, has secured its second round of private financing totaling $10 million. The funds will be used to ramp up production of Proximion's integrated optical monitoring and channel monitoring product, as well as help the company expand its international sales organization. Celtic House and Add Partners participated in the round, joining InnovationsKapital, the lead investor in Proximion's initial round of funding.

Based on advanced Fiber Bragg Grating (FBG) technology, Proximion's product architecture embeds functionality into the optical layer to detect and counteract network faults and reduce the costs resulting from network downtime. The company's first product, WISTOM, combines both optical channel monitoring and optical performance monitoring onto one platform. With this high level of functionality, WISTOM analyzes the performance of individual wavelength channels and pinpoints problems to be resolved to ensure Quality of Service (QoS) for network operators. This additional round of funding will enable Proximion to enhance the production of WISTOM and increase international sales.

About Proximion:

Proximion Fiber Optics AB is a supplier of in-fiber-intelligence for safeguarding and enhancing the performance of optical networks. Proximion is a spin-off of research institute ACREO, previously the Institute of Optical Research. For more information, visit www.proximion.com.

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