Funding for startups

Metro-Optix Closes $54M Round

SANTA CLARA, Calif., and ALLEN, Texas -- Metro-Optix, a telecommunications network equipment provider, today announced it has closed a third round of financing of approximately $54 million through the private placement of its newly authorized Series C Preferred Stock. The company previously announced, on an "interim" basis, $50M in third round funding on July 23, 2001. Metro-Optix is lowering the "cost per bit" of the metropolitan optical networking segment by delivering service providers a next generation, "protocol agile" bandwidth manager called CityStream. Van Wagoner Capital leads the third round with Palantir Capital as the other new participating investor. Repeat investors include JP Morgan Partners, InterWest, Sevin Rosen, Centerpoint, Bluestream, J W Seligman, Watsach and others. This third round brings the total amount of funding to $136 million since the company's founding in December 1999. "Metro-Optix is pleased welcome Van Wagoner and Palantir to our team and to receive renewed support from our early round investors," said Arun Bellary, chairman and CEO of Metro-Optix. "This round is a testament to the strength of our business plan and product development and our ability to withstand today's financing challenges. The additional resources will strengthen our product deployment capabilities and plans to bring CityStream to carriers worldwide." Metro-Optix Inc.
lightbuster 12/4/2012 | 7:44:14 PM
re: Metro-Optix Closes $54M Round does this mean good days for this startup....I doubt that!!!!
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