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Funding for startups

K2 Reaches Round 2 Peak: $29M

SUNNYVALE, Calif. -- K2 Optronics, Inc., a leading provider of intelligent optical components and subsystems, announces the receipt of $29 million in second round venture capital financing. Investment in K2 Optronics now totals nearly $40 million. Leading investment firm, Bessemer Venture Partners, headed the investment round, along with major participation by Global Technology Group and Intel Capital. The round also featured proportional investments from first- round financing participants: Alloy Ventures, Sutter Hill Ventures, JAFCO American Technology Fund, The Photonics Fund, and Advent Ventures (UK). In addition, K2 Optronics also has obtained a $4.5 million capital equipment lease line from GATX Ventures and Silicon Valley Bank.

“These latest infusions of capital clearly demonstrate product technology confidence in K2 Optronics,” remarked Raj S. Kapany, President and Chief Executive Officer and former General Manager with AMP/Tyco. “Our dedicated and talented staff already has taken great strides toward developing our first product featuring leading-edge technology.” K2 Optronics’ development team is led by 15 Ph.D.-level scientists and engineers, headed by Mike Powell, Vice President of Product Development, formerly of SDL.

http://www.k2optronics.com
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