Optillion concludes USD15m Series C investment round
30 October 2002 -- Transceiver supplier Optillion has concluded its Series C funding round with a further USD15m, bringing total venture financing to USD70m.
30 October 2002 -- Stockholm-based optical transceiver supplier Optillion says that it has concluded its Series C financing round, raising a further USD15m and bringing total venture financing to USD70m over the past two years.
The latest round was led by Crescendo Ventures, Cisco Systems, Swedish venture capital firm ITACT, and Investor AB's venture capital company Investor Growth Capital. All four participated in Series B, and ITACT provided Optillion's seed funding.
The Series C funds will be used to ramp production of Optillion's current 10Gbit/s transceiver products and to support product development, marketing and sales.
In conjunction with the new funding and in line with current market conditions Optillion will make some adjustments to its organisation, including a reduction in workforce.
Optillion develops, manufactures and sells carrier-grade, hot-swappable fibre-optic transceivers for networking equipment suppliers in the enterprise, metropolitan area, cable television, and storage area networking markets. Optillion is also a principal member of the 10 Gbit/s Ethernet Alliance.