Eblana raises USD4.5m in Series B funding

Feb. 11, 2003
11 February 2003 -- Ireland's Eblana Photonics, a supplier of lasers for broadband access communications, has secured USD4.5m in Series B fundraising, bringing total funds to USD7.75m.

11 February 2003 -- Ireland's Eblana Photonics, a provider of lasers for broadband access communications, has secured a USD4.5m investment in a Series B fundraising.

The round was led by London-based pan-European venture capital firm TLCom Capital Partners - its first investment in Ireland - and also involves existing investors ACT Venture Capital and Enterprise Ireland. It brings the total funds raised to USD7.75m.

Eblana was founded in December 2000 to commercialise technology developed in a photonics research programme involving Trinity College Dublin, the Irish National Microelectronics Research Centre (NMRC) and Enterprise Ireland.

"This major investment is a milestone in Eblana's evolution in supplying cost-effective high-quality laser products for use in cost-sensitive access applications," says CEO James O'Gorman. "Eblana's technology uniquely allows outsourced production of high-performance laser components to contract manufacturers, meeting growing demand for components delivered in high volume, at affordable prices and at the high quality levels demanded. Our technologies allow a laser company to exploit for the first time, established microelectronics manufacturing models to better deliver value and superior products to its customers."

Colin Watts, general partner at TLCom Capital Partners, said: "TLCom sees the technology and products being developed by Eblana as key enablers to the emerging optical broadband markets, which will drive the next generation of residential telecommunication services."

www.eblanaphotonics.com

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