Nistica has secured a funding round of $8.5 million, a combination of equity and debt financing
February 1, 2011
BRIDGEWATER, N.J. -- Nistica, a leading supplier of agile optical networking modules, announced a funding round of $8.5-million, a combination of equity and debt financing. Battelle Ventures and Technology Venture Partners co-led the $5.5M Series D equity round, while MMV Financial provided $3M of debt financing. Novitas Capital, Fujikura Limited, NTT Electronics Corporation (NEL), MMV Investment Partners and other individual investors participated in the equity financing.
"The rapid expansion of high-bandwidth mobile devices and the emergence of cloud computing has significantly increased the need for agile optical networking devices that simplify bandwidth provisioning," said Bryson Hollimon of Technology Venture Partners. "TVP has been a supporter of Nistica since its inception, and the company's spectacular progress in 2010 has led to this successfulinvestment round."
"We have delivered Telcordia-certified FULL FLEDGE modules with full grid-flexibility since day one, and our customers are leveraging the future-proof nature of our wavelength selective switches in winning new business," remarked Ashish Vengsarkar, CEO of Nistica. "The infusion of Series D funding allows us to launch new products that enable the creation of colorless, directionless networks unconstrained by grids."
"We are delighted that our corporate strategic partners Fujikura and NEL have joined us in this investment round," added Ralph Taylor Smith of Battelle Ventures, "This round of funding further bolsters Nistica's balance sheet and positions the company to scale without financial constraints."
Nistica
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