Redfern Broadband Raises $28M

Investors include Optical Capital Group and Chase H&Q

November 6, 2000

1 Min Read

SYDNEY -- Redfern Broadband Networks Inc (RBN), the Australian based designer and manufacturer of the RBN GigaWave™ photonic wavelength management system for metropolitan and regional area networks, today announced that it has received its first external investment funding from the US-based Optical Capital Group (OCG), Chase H&Q and other US investors totalling US$21.5 million and US$6.5 million from Australian investors Allen & Buckeridge, Macquarie Technology Funds and the management of the company. OCG is a strategically important partner to RBN due to their experience and focused involvement in the fiber optic telecommunications market.

“We are delighted to welcome OCG and our other Australian and international investors. We plan to focus this new investment on extra R&D, recruitment, new manufacturing and on securing relationships with new large customers in order to expand the adoption of our technology,” said Peter Davies, CEO of Redfern Broadband Networks Inc. Demonstrating his personal belief in RBN’s future, Peter Davies is also a significant investor in this financing round. “This new capital will be invested to reinforce and to continue development of Redfern Broadband Network’s already strong Intellectual Property together with expanding their global marketing activities”, said Chris Howells, CEO of RBN’s parent company Redfern Photonics Pty Ltd.

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