Teem Turns €10M Trick

Teem Photonics secures €10M (US$10.76) in third runding round, led by Paris-based CDC IXIS Innovation

February 21, 2003

1 Min Read

GRENOBLE, France -- TEEM PHOTONICS, a leading provider of ultra-compact photonic solutions for high bandwidth optical networks, today announced that it has raised €10 million in third round funding. Paris-based CDC IXIS Innovation led the round, joined by private investors, Credit Suisse First Boston and existing institutional investors Baker Capital, Hillman Co., INPG Enterprises, Lightspeed Venture Partners and Schneider Electric Ventures. “Very few companies are succeeding in today’s adverse telecommunications environment,” said Antoine Kévorkian, CEO Teem Photonics. “The completion of this round signifies a strong vote of confidence in Teem’s roadmap and ability to deliver. We are pleased to have the commitment of CDC IXIS Innovation as well as the continued support of our existing investors.” The company plans to use the funds to push the development of its integrated active and passive product lines for application in new areas, and pursue opportunities arising out of the on-going consolidation within the optical sector. This round brings Teem Photonics’ total investment to € 47.4 million. Teem Photonics

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