Onetta, Inc. announced it has secured $56 million in Series B financing. HarbourVest Partners led the financing round, with additional investments from Sumitomo Corporation, JP Morgan H&Q, J.&W. Seligman and Series A investors, Sequoia Capital and Matrix Partners. Onetta will use the funding to expand production capacity of high-end intelligent optical amplifiers and next-generation intelligent optical engines.
Onetta manufactures intelligent optical engines for leading optical networking equipment manufacturers (ONEMs) and service providers to create faster, more economical, and higher performing optical networks with greater manageability. The company offers customers differentiated products that span a range of optical technologies delivered by an optical and control design team. By inventing optical designs and dramatically compressing product design cycle time, Onetta provides both ONEMs and service providers a better return on their optical networking investment. These product advances allow for dynamic provisioning and protection, therefore guaranteeing greater service performance over optical networks.
Presidio Venture Partners LLC is a venture capital firm, funded by Sumitomo Corporation and Sumitomo Corporation of America, with a focus on investments in information technology.
About Onetta:
Onetta, headquartered in San Jose, CA, develops and manufactures intelligent optical engines for optical networking equipment manufacturers and service providers. For more information, visit www.onetta.com.