Funding round, led by Cisco, raises $24 million; other investors include The Barksdale Group, Acorn Ventures, and WRF Capital

March 14, 2001

1 Min Read

BOTHELL, Wash. -- Optical networking components developer Lumera Corporation (, a subsidiary of Microvision, Inc. (Nasdaq:MVIS), announced today that it will complete a $24 million round of financing led by Cisco Systems, Inc. Lumera is developing a new generation of unique active and passive components for optical networks that are expected to deliver increased bandwidth at very competitive costs while requiring less power than current devices. The company says that its technology also sets the stage for integrated optical systems-on-a-chip. Lumera's component development is based on proprietary electro-optic polymer materials developed by the company and its research partners at the University of Washington.

"This has been a wonderfully successful financing with a strong group of seasoned investors that offer real strategic value-added," said Lumera Chairman William Owens. "We continue to make outstanding progress at Lumera, and the addition of substantial capital invested by people with tremendous industry presence and expertise can only accelerate that progress. We intend to be the first company to successfully commercialize polymer-based electro-optic devices that we believe can ultimately redefine performance and cost in the space."

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