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July 24, 2002
SANTA CLARA, Calif. -- Aurora Networks, a leading developer of advanced optical transport systems for broadband networks, announced today that it has successfully raised approximately $30 million in a Series B funding, led by the Sprout Group. The capital will be used to increase production capabilities. The Sprout Group joined previous investors Battery Ventures, ComVentures and Castile Ventures in providing this round of funding. To date, Aurora has raised $60 million in funding. Aurora's next-generation broadband transmission equipment is an evolutionary progression of traditional hybrid fiber/coax (HFC) architectures that meets the high bandwidth demands of new, revenue-generating residential and business services. While Aurora's products are ideally suited for fiber deep architectures, where they provide unparalleled speed, reliability and cost savings, they are also backward compatible with existing HFC networks, providing an optimal migration path to future network architectures, including fiber-to-the-home. "Despite the tough conditions in the communications markets, recent business activity at Aurora has been extremely strong. Aurora has proven its ability to attract and retain major U.S. and Canadian customers looking for ways to improve their networks and generate new revenue," said Stephen Diamond, General Partner for the Sprout Group who will join Aurora's Board of Directors. "Aurora's customer traction is also a strong endorsement of their technology and products. We're excited to be on board with Aurora and look forward to their continued growth." Aurora Networks Inc.
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