VCSEL Startup Gets $3.8M

Wasatch Venture Fund is the lead investor for the $3.8 million Series B equity financing round for Lytek Corp.

October 24, 2001

1 Min Read

PHOENIX -- Wasatch Venture Fund, a Draper Fisher Jurvetson affiliate, is the lead investor for the announced $3.8 million initial closing of the Series B equity financing round for Lytek Corporation. Lytek is developing long wavelength Vertical Cavity Surface Emitting Lasers (VCSELs) at 1310 nm used for data-communication applications. Intel Capital participated in this round and an additional $1.5 million dollar debt fund has been secured. "Lytek's technology provides dominant advantages and tremendous value in the optoelectronic device industry and we are excited to partner with their research team and ASU affiliates," commented Todd Stevens, Wasatch Venture Fund Managing Director. "Our investment enables Lytek to accelerate its development of their VCSEL technology and deliver product next year." Lytek Corp.

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