Laser Startup Has $12M First Round

LOS ANGELES -- fiberSpace, Inc., an innovator in high performance laser sources for optical fiber communications, today announced it has entered into an agreement to sell approximately $12.1 million of series A redeemable convertible preferred stock to J.P. Morgan Capital, L.P, and one of its affiliates, and Morgenthaler Partners VI, L.P. The preferred stock is convertible into common stock of fiberSpace, subject to certain adjustments.

Dr. Leonardo Berezovsky, president and chief executive officer of fiberSpace, said, "We are gratified by the support of these two highly respected venture capital firms with unsurpassed expertise and reputation and their confidence in our technology and products under development."

http://www.fiberspace.net