Funding agreement with Yasuda Enterprise Development Co. Ltd. brings total Series A funding to $31 million

February 15, 2002

1 Min Read

CHANTILLY, Va. -- NEC Eluminant Technologies, Inc. (eLUMINANT(R)) today announced that it has finalized a funding agreement with Yasuda Enterprise Development Co., Ltd. (YEDC) to support eLUMINANT's growth in fiber-based, broadband products and services. Yasuda Enterprise Development Co., Ltd. is one of the largest venture capital companies in Japan. Their investment of $5 million in eLUMINANT, in addition to investments of $26 million announced last fall, brings eLUMINANT's total Series A funding to $31 million during the past four months. "We're very pleased that Yasuda shares our vision for the future of optical networks and the development of passive optical network technology," said David Montanaro, chairman and chief executive officer of eLUMINANT. "We see significant interest in our technology from carriers around the globe and this funding will help us leverage these opportunities." NEC Eluminant Technologies Inc.

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