T-Networks Takes In $30.6M

T-Networks receives $30.6M in Series B capital investments from five existing existing investors and new investor TL Ventures

April 22, 2002

1 Min Read

ALLENTOWN, Pa. -- T-Networks Inc., founded in July 2000 to bring practicable innovation to optoelectronics by leveraging the qualities of indium phosphide (InP), announced today $30.6 million in new capital investments.The series B funding includes re-investments by Greylock, Intel Capital, Sequoia Capital, US Venture Partners, and Vitesse Semiconductor, in addition to new investor TL Ventures. The latest infusion of venture funding gives the Company, which has already introduced products into the optical marketplace, sufficient resources to augment its world-class systems-focused engineering team, further extend the sales infrastructure, and continue product development."T-Networks impresses us with the speed of their progress in key areas: assembling a first-rate team, building a top-line development and production facility, successfully applying a systems approach to optical component technology, and delivering that technology to the market," said Winston S. Fu, Ph.D., general partner at US Venture Partners. "New strategies are needed to address the economic and technical challenges faced in telecommunications, and T-Networks is demonstrating a level of innovative thinking that we are confident will succeed in helping to move this industry forward.”T-Networks said it expects to achieve revenue generation and volume product shipments by the second half of 2002. The products target key market segments, including 10Gb/s DWDM, 10Gb/s long-reach, and 40Gb/s applications.T-Networks Inc.

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