Algety Raises $33 Million

Goldman Sachs and Dassault join investors in long haul DWDM startup.

March 27, 2000

2 Min Read

Algety Telecom, a pioneer in ultra high-speed, long-haul optical networking, today announced the close of its second round of venture capital funding at $31 million (US). New investors Goldman Sachs and Dassault Développement join round two funding, along with reinvestment by initial investors Banexi Venture Partners, Crescendo Ventures, Innovacom, and Newbury Ventures.

The new infusion of capital will fund Algety's ongoing development of wave division multiplexing (WDM) systems that utilize a new generation of solitons (versus currently utilized photons) for efficient and ultra-high speed data transmission over ultra long-haul optical networks. In addition, the company will grow its sales and customer support teams, form strategic technology and business partnerships, and continue research and development efforts.

Hughes Lepic, managing director of Goldman Sachs, said: "The quality of Algety's technology and management team makes it one of the future worldwide leaders in the telecommunications transmission sector. We are very excited to become a financial partner of Algety and we intend to fully support its continued growth and expansion."

"Dassault Développement firmly believes that Algety will play a significant role in actually defining and enabling the next generation of ultra-high speed optical networking for long-haul telecommunications service providers," says Jean-Marie Chauvet, Partner at Dassault Développement. "Algety's team, vision, and proven ability to execute are truly exceptional."

Compatible with any type of existing fiber, soliton technology uniquely provides for both an increase of data capacity, and an increase in transmission distance. Algety's solitons enable carriers to substantially increase lengths between regeneration sites, and to greatly improve the efficiency of their network. Algety technology will also eliminate millions of dollars of equipment from every link, greatly reducing long-haul costs and providing carriers with an economical upgrade path to manage the huge increases in traffic expected in the next decade.

http://www.algety.com

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