JK&B Capital led the third round of equity funding, with Alliance Select Investors, Essex Private Placement Fund, and others

March 19, 2001

1 Min Read

RICHMOND, Calif. -- Onix Microsystems Inc.,a developer and manufacturer of optically transparentswitching engines for communications networks, announcedthat is has secured $70 million in equity and debtfinancing in its third round of funding.

JK&B Capital led the third round of equity funding, withparticipation from Alliance Select Investors, EssexPrivate Placement Fund, Millennium Technology Ventures,Randolph Street Partners, Sinwave Venture CapitalLimited, Trust Company of the West, and Zimmer Lucas Partners. Analog Devices Inc. has also participated inthe round as a strategic investor to emphasize theirpartnership with Onix. Previous investors Bank ofAmerica Venture Partners, Advanced Technology Ventures,and Azure Capital Partners continued their support ofOnix by also participating in this third round offunding.In addition to raising $50 million in equity investment,Onix secured a $20 million equipment loan agreement withWestern Technology Investments, Silicon Valley Bank, andGATX Ventures Inc.

“We are very excited to have such high-quality financialinvestment partners join us in this round, as well asthe continued support from our previous investors,” saidSteve Panyko, President and CEO of Onix MicrosystemsInc. “We expect that this additional funding willfurther expand our manufacturing capabilities and giveus additional financial leverage to bring our all-optical switching engine product offerings to market.”

http://www.onixmicrosystems.com

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like