Syntune AB nabs $7.1 million in second-round financing
AUGUST, 29, 2007 -- Syntune AB (search for Syntune), developer of single-chip, widely tunable lasers, today announced that it has closed the second round of financing of SEK 47.8 million ($7.1 million USD, EUR 5.2 million). The round was led by InnovationsKapital of Sweden; other investors who participated in the round include Teknoinvest, Vision Capital, and existing private investors.
"This round of investment enables us to ramp production more quickly, as well as grow our customer base for both our first generation of tunable products as well as our second- generation 10-Gbit/sec tunable transmitter product," reports Patrik Evaldsson, CEO of Syntune.
Syntune's product line includes the S3500, a widely tunable CW laser; the S3600, an MSA-compliant Integrable Tunable Laser Assembly (ITLA); and the S4500, which the company claims is the world's first truly monolithic, integrated 10-Gbit/sec tunable transmitter. Syntune says the patented design of its lasers provides leading-edge functionality in the world's smallest package, with the lowest power consumption.
"Syntune's approach of using world-class foundries in both chip and packaging fully leverages our investment," contends Peder Holm, investment director at InnovationsKaptial. "We are excited about supporting this next phase of this rapidly growing company."
Syntune says it has chosen "premier manufacturing partners" such as CyOptics Inc., of Leigh Valley, PA, to ensure a consistently reliable product. Cyoptics´ products are manufactured on mature processes, both in chip fabrication and packaging. These products have accumulated over 120 billion device service hours in the most sophisticated telecommunication systems worldwide.
"We have made great progress in the marketplace and look forward to supporting the volume demands of our customers," adds Kevin Green, Syntune's vice president of marketing and sales.
According to CIR's estimates, tunable lasers will be the fastest growing major segment of the components market, reaching almost $1 billion USD by 2012.
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