New investors include Mustang Ventures, Amerindo, Canadian Imperial Bank of Commerce, and Deutsche Bank Alex Brown

February 6, 2001

1 Min Read

COLUMBIA, Md. -- CODEON Corporation, a leading designer and manufacturer of cutting-edge optical components for the fiber optic telecommunications industry, today announced the completion of its Series D financing, totaling $37 million and bringing the company's total funding to $62 million. Investor interest and support for CODEON continued to grow in the Series D financing round. CODEON has a diversified investor base with new investors Mustang Ventures, Amerindo, Canadian Imperial Bank of Commerce, BankAmerica Investment Corporation and Deutsche Bank Alex Brown. Previous investors New Enterprise Associates, Optical Capital Group, Grosvenor Funds, Kinetic Ventures and Boulder Ventures also participated in the latest round.

In making today's announcement, CODEON Chief Executive Officer Robert Harvey stated, "Completing the Series D round of financing was another significant milestone pointing to the growing success of CODEON. Raising $37 million was above our objective for the round and clearly reflects the recognition of the progress we have made to date and the foundation for a successful future. The increasing demand for high-speed modulation coupled with the high performance of our current devices and plans for expanding our product line represents a strong platform for success. We will be putting this money to use to aggressively expand our production capacity."

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like