Lasers In Electronics Archives
Picolight Raises $13 Million Funding Round
BOULDER, Colo.--(BUSINESS WIRE)--April 7, 2005-- Funding Will Enable Company to Bring 1310nm Vertical Cavity Surface-Emitting Laser (VCSEL) Products into Volume Production, Meet Growing Demand for Existing Products
Picolight Inc., a leading designer and manufacturer of optical transceivers and components, announced today that it has raised $13 million in its latest funding round. Coral Capital Management led the round by joining previous investors BA Venture Partners and Vesbridge Partners to complete the new financing. The company is looking to close another $4 million to $7 million in funding during the second quarter of 2005 for various product expansion activities. Picolight raised $90 million in prior capital, with the most recent round raised at a significant increase in valuation from the prior round.
Picolight's revenue has increased more than 125 percent from the first quarter 2004 to first quarter 2005, fueled by increasing demand in Internet protocol (IP)-driven applications, including 10G Ethernet and parallel-optics markets.
"This funding round validates the tremendous progress we made through the second half of 2004 and into the first quarter of 2005, and will help us commence volume shipments of 1310nm VCSEL-based products while building on our early lead in this rapidly emerging market for better-performing, more economical enterprise, storage area and metro network interconnect technology," said Steve Hane, Picolight's president and chief executive officer. "The combination of this capital commitment, steadily improving market conditions, and with our growing customer traction across multiple product lines positions us to execute the focused growth plan we put into place during the second half of 2004. Our goal is to achieve profitability by the end of 2005."
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Posted on April 7, 2005 03:06 PM
Axcel Photonics Announces New Ownership Under J. Jim Hsieh
MARLBOROUGH, MA, March 31, 2005 – Axcel Photonics, Inc., today announced the sale of the company to Dr. J. Jim Hsieh, founder of Lasertron and pioneer in the field of fiber-optic lasers. In addition, Dr. Hsieh will take the helm as Chief Executive Officer and has appointed Frank Hsieh as Executive Vice President in charge of sales and marketing. Dr. Wei Gao, founder of Axcel Photonics, will continue his duties as President.
"We plan to position Axcel as the world's leading manufacturer of high power diode lasers in terms of performance, reliability, and quality," proclaimed Dr. Hsieh. "Axcel has the technology to produce extremely high power products. The next step is to make these readily available in the marketplace."
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Posted on April 1, 2005 05:02 PM
Luxtera Announces Photonic CMOS Processor
Luxtera formally announced its plans to enter the CMOS photonics market. All this in obvious anticipation of when microprocessors will transmit information actually using light, rather than electrons.
Luxtera claims that its current optical modulator designed to transform electrons into photons runs at roughly 10-GHz. To keep things in reference, this is ten times the speed of an optical modulator Intel Corp. researchers have been talking about. Beginning in mid-2006, Luxtera hopes to be in full production of photonic devices using standard CMOS manufacturing processes....
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Posted on March 30, 2005 02:43 PM | Comments (0)
