Wave7 Optics closes $15.5M third round led by Oak Investment Partners

August 21, 2002

1 Min Read

ALPHARETTA, Ga. -- Wave7 Optics, Inc., a leading developer of optical access equipment for the fiber-to-the-home and business (FTTX) market, today announced that is has raised a third round of funding totaling $15.5 million, bringing the company’s total funds raised to $47.5 million. Oak Investment Partners led the Series C round, while all prior investors, Morgenthaler Ventures, Advanced Technology Ventures, Lucent Venture Partners, Mellon Ventures, and Armada Venture Partners also participated in the round. Additionally, Dave Walrod, general partner of Oak Investment Partners, will join the Wave7 board of directors.Wave7 Optics has successfully developed and deployed a high-bandwidth, dynamically provisionable, optical access system to address the “last mile” of broadband Internet connectivity. Wave7’s suite of optical access products, the Last Mile LinkTM, serves residential, business and MDU subscribers with unprecedented bandwidth flexibility to provide the triple play of video, voice, and data.“We are very excited to bring Oak Investment Partners into the Wave7 Optics team, and the continued participation of our existing partners at Morgenthaler, Advanced Technology Ventures, Lucent Venture Partners, Mellon Ventures, and Armada Venture Partners is a very solid endorsement of our technical approach and progress with customers,” said Thomas Tighe, Wave7 CEO and president. “This new round of funding will enable Wave7 to expand the market base of its recently introduced Last Mile Link suite of optical access products and scale production accordingly.”Wave7 Optics Inc.

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