Funding for startups

Novera Optics Scores $83 Million

SAN JOSE, Calif. -- Novera Optics, a developer and manufacturer of photonic subsystems for communications equipment suppliers, announced today that it has raised $83 million in equity and debt in its second round of funding. Novera Optics’ second round of funding was led by Octane Capital Management. Other participants in this round included Agilent Technologies, Amerindo Investment Advisors, Essex Investment Management, Intel Capital, KLM Capital Group, Meritech Capital Partners, and Van Wagoner Capital Management. First-round investors Enterprise Partners and Redpoint Ventures continued their support of Novera Optics by participating in the second round of funding. In addition to raising $53 million in equity investment, the company secured a $30 million lease line from Western Technology Investment.

“We are excited to have such high quality financial and corporate investors participate in this round," said Kirk Flatow, President and CEO of Novera Optics. "This funding will be utilized to ramp production of our dynamic gain equalizer, as well as continue the development of additional capabilities in our line of dynamic optical signal processors."

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