Second round of funding for photonic subsystems startup led by Octane Capital Management

March 12, 2001

1 Min Read

SAN JOSE, Calif. -- Novera Optics, a developer and manufacturerof photonic subsystems for communications equipment suppliers, announcedtoday that it has raised $83 million in equity and debt in its second roundof funding.Novera Optics’ second round of funding was led by Octane Capital Management.Other participants in this round included Agilent Technologies, AmerindoInvestment Advisors, Essex Investment Management, Intel Capital, KLM CapitalGroup, Meritech Capital Partners, and Van Wagoner Capital Management.First-round investors Enterprise Partners and Redpoint Ventures continuedtheir support of Novera Optics by participating in the second round offunding. In addition to raising $53 million in equity investment, thecompany secured a $30 million lease line from Western Technology Investment.

“We are excited to have such high quality financial and corporate investorsparticipate in this round," said Kirk Flatow, President and CEO of NoveraOptics. "This funding will be utilized to ramp production of our dynamicgain equalizer, as well as continue the development of additionalcapabilities in our line of dynamic optical signal processors."

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