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Waveguide Solutions Gets Some Cash

Series B funding round led by Southeast Interactive Technology Funds, amount undisclosed

January 18, 2002

1 Min Read

CHARLOTTE, N.C. -- Waveguide Solutions, Inc. ("Waveguide"), a leader in the development of printed monolithic optical circuits, today announced that it has completed an initial close on its latest round of venture financing (Series B). The round was lead by Southeast Interactive Technology Funds ("SEI") of Raleigh, NC, and Academy Venture Funds of Raleigh and Charlotte, NC. Waveguide anticipates that additional financial and strategic investors will participate in this round. Proceeds will be used to support continued product development based on the company's innovative technology, which enables printing of passive and active optical circuits onto semiconductor devices. "We, at SEI, are happy to continue our commitment to this young and exciting company in the emerging photonic space," said Suresh Arora, Waveguide Board member and SEI partner. "A number of high risk bets have been made in the pursuit of integration in the optical components, mostly with disappointing results due to the long learning curve and uncertainties involved with process based technologies. We are very bullish on Waveguide Solution's prospects since its Sol-Gel technology's ability to work with well proven semiconductor processes, removes a large risk from the overall challenge, and may just be the right ticket for the semiconductor companies to enter the photonics space on an accelerated basis."Waveguide Solutions Inc.

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