LightPointe raises $15M, expands resources
March 21, 2005 San Diego, CA -- LightPointe, a manufacturer of optical wireless products based on free-space optics (FSO) technology, today announced plans to bolster its North American operations by relocating its German-based engineering and manufacturing functions to its San Diego corporate headquarters. According to the company, the move reinforces its focus on the enterprise networking and mobile wireless markets, leveraging San Diego's abundant engineering resources, while accelerating time-to-market for its outdoor point-to-point wireless products.
By aligning its engineering and manufacturing efforts with other company departments in San Diego, the company says it will improve cross-functional team communications, efficiency, and productivity, while cutting duplicative costs and lowering overall operating expenses. The relocation begins immediately and will be completed by June.
The company will also begin hiring additional engineering and manufacturing staff in support of its San Diego-based expansion.
The company recently raised an additional $15 million in funding from investors including Rho Ventures, Sevin Rosen Funds, and Ampersand Ventures.
"We've gained considerable traction in the enterprise and mobile wireless markets, and we're ready to increase our development efforts to build upon the company's intellectual property," explains Jim Cady, LightPointe's president and CEO. "Because San Diego is a hotbed of innovative wireless development, our local team will be able to expedite the delivery of highly innovative networking solutions that are transforming outdoor wireless communication."
The company serves both the enterprise market and mobile wireless service provider market with optical wireless products with bandwidth capacity up to 1.25 Gbit/sec for specific network applications including LAN-to-LAN data connectivity, VoIP, video, CAD, PACS, disaster recovery, redundancy, mobile wireless backhaul, and mobile wireless network extension.