Has completed a 2-stage financing with Storm Ventures, Morgenthaler, InterWest Partners, and Centerpoint Venutures

February 28, 2002

1 Min Read

SAN JOSE, Calif. -- Ignis Optics, which has designed revolutionary new transceiver technology for Metro, Edge and Access communications networks has raised more than $30 million in 2001. Ignis Optics completed a 2-stage financing with Storm Ventures, Morgenthaler, InterWest Partners and Centerpoint Venutures in late 2001. The company was incubated by Storm Ventures in early 2001. "We keep an eye out for major technology advancements in the optical space," said Sanjay Subhedar, General Partner at Storm Ventures. "Ignis Optics hit our radar screen with their unique optical packaging technology. Equally important, the Ignis Optics team has proven success in designing transceivers in the past and were able to very clearly define their value proposition to us." "To attract financing today you need more than just a good idea," said Michael Lebby, Ignis Optics CEO. " Ignis Optics was built on a foundation of industry experience, proven design success and a business plan that we believe allows us to bring products to market quickly, enabling us to meet design windows." Bob Pavey, General Partner at Morgenthaler, concurs. "We felt that the Ignis Optics team, with their proven track record, would be able to deliver cost-effective optics to the Metro Network. Their IO-PKG optical engine technology is a revolutionary approach to single mode optical design and their Contract Manufacturing partnering business model provides a clear path toward achieving commercial success." Ignis Optics

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