Investors in Round 2 include Menlo Ventures, Venrock Associates, CDIB Ventures, Granite Global Ventures, Mitsubishi, and NIF Ventures

November 19, 2001

1 Min Read

PITTSBURGH, Pa. -- AcceLight Networks Inc., today announced $60 million in new equity and debt financing that will be used primarily for strategic investment in product development and research, as well as to expand the company's sales and customer engagements in key North American and International markets. In addition to AcceLight's initial investors, Menlo Ventures and Venrock Associates, the company attracted new venture capital from investment firms, including: CDIB Ventures, Granite Global Ventures, Mitsubishi Corporation, NIF Ventures, Stonewood Capital Management, Western Technology Investment, Whitecap Venture Partners and Vertex Management. "We see huge potential in AcceLight's breakthrough optical switching products and technology, and as such we will support this seasoned management team," said Joo-Hock Chua, senior vice president, Vertex Management, co-lead investor in AcceLight's second round. "Photonic service switching addresses the issues at hand - OPEX and CAPEX reduction, with continued service differentiation for higher margin offering for service providers. As such, photonic service switching will play a significant role in the near- and long-term growth of the telecommunications industry." AcceLight Networks Inc.

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