KSaria Raises $20 Million

Second financing round was led by a new investor, Advent International

December 5, 2001

1 Min Read

WILMINGTON, Mass. -- kSARIA Corp., an automation pioneer in fiber-optic component assembly, has raised $20 million in second-round venture funding in a highly competitive capital market. The latest investment follows completion of kSARIA's initial $15 million in venture funding nearly a year ago. kSARIA's second financing round was led by a new investor, Advent International in Boston, Mass., who was joined by all of kSARIA's first-round institutional investors: North Bridge Venture Partners, U.S. Venture Partners, Boulder Ventures Ltd. and Spinner Asset Management, LLC. kSARIA will use its fresh influx of capital to fully develop its family of products and expand its sales and manufacturing infrastructure. "We're confident that kSARIA is the clear leader in automated assembly equipment for the optical components industry," said Douglas A. Kingsley, managing director of Advent International. "When the telecom industry rebounds, manufacturers will have to choose between massive hiring and automation. We believe they'll choose automation and, when they do, kSARIA will be well positioned to capitalize on the opportunity."kSaria Corp.

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