DigiLens Grabs $4M

DigiLens kicks off financing round with $4M in first close, led by Crescendo Ventures

November 15, 2002

1 Min Read

SUNNYVALE, Calif. -- DigiLens, Inc., a leading developer and manufacturer of electro-optic components for communications, imaging and display applications, announced today a $4 million first closing of its current private equity financing including six leading venture investors. Crescendo Ventures, a global venture capital firm that accelerates the growth of companies by providing seed and early-stage funding in communications and Internet infrastructure and services, led the investment.Earlier this month, DigiLens signed component development contracts with 2 major Japanese corporations and began shipping sample orders for its Dynamic Gain Equalizer chips to multiple blue chip customers. Joining in this closing were Alta Partners, Apex Investment Management, Noro-Moseley Partners, Johnson & Johnson Development Corp. and Vision Capital. The total financing is anticipated to raise $15 million, with a second and final closing expected by March 2003. Dr. Jonathan Waldern, CEO, commented “We are looking to attract a new investor for the second close and the terms of this Series E are very much designed to encourage outside participation”. DigiLens Inc.

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