3/27/00 Long-haul optical networking company Algety Telecom (Lannion, France) announced the close of its second round of venture capital funding at $31 million.
New investors Goldman Sachs and Dassault Developpement joined round two funding, along with reinvestment by initial investors Banexi Venture Partners, Crescendo Ventures, Innovacom, and Newbury Ventures. Newbury and Crescendo were co-leaders in the second round.
The new infusion of capital will fund Algety's ongoing development of wavelength-division multiplexing using solitons over long-haul optical networks. In addition, the company plans to expand its sales and customer support teams, form strategic technology and business partnerships, and continue research and development efforts.