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Polychromix secures $8M in its Series B round of funding
February 2, 2004
WOBURN, Mass. -- Polychromix®, Inc., a developer of advanced wavelength management solutions for optical networking, today announced it has attracted in excess of eight million dollars in its Series B financing. New investor, Siemens Venture Capital, joined Seed Capital Partners (Softbank) and Vanguard Ventures in bringing the total investment in Polychromix to greater than U.S. $15 million. Additional venture capital investors in this round included Navigator Technology Ventures and Pyramid Technology Ventures.
Polychromix’s suite of advanced optical channel-management products, based on its Dynamic Channel Orchestrator™ (P-DCO™) platform, have secured multiple purchase orders and design wins from tier-one customers over the past several months. Polychromix intends to use the additional capital to expand its manufacturing capacity and research and development activities to meet growing market demand. Polychromix’s P-DCO™ allows service providers to dynamically and remotely provision and control optical wavelengths from a network operating center, resulting in considerable operational and capital expense reductions.
“Carriers have made substantial investments in optical fiber capacity over the past few years, and are now looking to strategic vendors such as Polychromix to help convert these investments into revenue and profits,” said Jack Gill, general partner from Vanguard Ventures. “Polychromix is succeeding where other optical startups have struggled, in that they have secured design wins with tier-one network equipment vendors. Polychromix is poised to grow because we see evidence that carriers are demanding the channel-management and network flexibility that Polychromix’s products provide.”
“The Polychromix suite of products gives system houses the functionality required to win current carrier bids, which presents a compelling solution in this competitive space,” said Bjoern Christensen, president and CEO of Siemens Venture Capital.
“The P-DCO™ concentrates on specific optical networking requirements, and in an efficient form factor, provides considerable advantages to both service providers and equipment vendors,” said
Luis Llovera, investment partner at Siemens Venture Capital. “Dynamic wavelength provisioning is an essential step in supporting new wavelength services, positioning Polychromix as a strategic part of future network growth.”
The introduction of the P-DCO™ in optical networks eliminates the need for costly, labor-intensive “truck rolls”, and replaces them with simple, cost-effective “key strokes” at a remote network operating center. Consequently, service providers who employ a P-DCO™-enabled architecture can reduce wavelength-provisioning time from months to minutes and can also provide advanced grooming and revenue-generating wavelength services to end-customers. The P-DCO™ permits carriers to extract additional profit from their existing infrastructure while seamlessly migrating to future networks.
“Polychromix is committed to delivering cost effective, advanced technology solutions to our customers. This new investment will fuel our growth and transition Polychromix from an innovative R&D operation to a full-scale manufacturing company capable of meeting our customer’s demands and expectations,” said Brian Mitchell, president and CEO of Polychromix. “Polychromix is developing products that are directly driven by our customer engagements, and we will continue to work closely with them in providing the wavelength management flexibility that future optical networks will require.”
Polychromix Inc.
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