More funding for Cube, LightConnect
Private equity firm Carlyle Group, and venture capital firm Target Partners, have led a second round of financing for Cube Optics, Mainz, Germany, totalling EUR10m. Cube has developed a next-gen assembly and manufacture platform, for mass-manufacture of miniaturised network components.
Cube's packaging and assembly platform enables it to mass-produce optical devices that cost less and are up to 100 times smaller than current devices.
Lightconnect has raised USD9m in third-round financing, led by Sevin Rosen Funds. Other participating investors include Incubic, Morgenthaler, US Trust, US Venture Partners and Optical Capital Group. This takes total investment to USD34m.
The new funding will be used to expand Lightconnect's MEMS-based product portfolio, which includes variable optical attenuators, dynamic gain equalisers and dynamic channel equalisers.
Lightconnect has increased production of its VOAs by 300% in the last quarter. "New automation initiatives have allowed us to boost productivity and shorten delivery times," said VP Sushil Shah.