BinOptics Closes $6M C RoundBinOptics Closes $6M C Round

BinOptics has closed its Series C round of funding totaling $6 million

November 15, 2006

2 Min Read

ITHACA, New York -- BinOptics Corporation, an emerging leader in integrated microphotonic chips produced using a revolutionary etched-facet technology, today announced it has closed its Series C round of funding totaling $6 million. The funding was led by new investor, STIC International, the Palo Alto-based U.S. arm of STIC Investments, one of South Korea’s leading venture capital and financial equity groups. Previous BinOptics investors, Draper Fisher Jurvetson, Cayuga Venture Fund, FA Technology Ventures, and ArrowPath Venture Partners, all participated in this round.

“BinOptics has clearly demonstrated the value of its etched-facet technology to meet challenging performance and cost targets for InP-based communications devices, and has recently shown similar capability for GaN-based blue lasers,” said Steven Lee, Partner at STIC International. “We believe BinOptics is poised to make a big impact in the global marketplace and are pleased to be able to contribute at this stage in the company’s growth.”

BinOptics will use the new funding to support the scaling of its line of telecom and datacom lasers designed for high speed (up to 10Gbps) over a wide range of temperatures. It will also be used to accelerate product development of etched-facet blue lasers for optical storage applications.

“The demand for competitively priced lasers that can operate reliably at high temperatures, speeds, and powers is now growing at a rapid rate on a world-wide basis for a variety of applications,” said Alex Behfar, CEO of BinOptics. “Our unique manufacturing approach has allowed us to meet these requirements in the key material systems, and we are now ready to move to the next stage in production and product development. We are particularly pleased to have the support of STIC International in this global marketplace and are gratified to have the support of all of our previous investors.”

BinOptics products are manufactured using its proprietary etched-facet technology, which significantly reduces the cost of production, testing, and handling compared to conventional laser processing. The technology also enables monolithic integration of multiple functions on a single chip because of its flexibility and high yield. The company’s products include edge-emitting lasers with optional integrated monitoring detectors as well as the industry’s first horizontal-cavity surface-emitting laser (HCSEL™). The HCSEL™ is a high power, high reliability surface-emitting laser operating at the1310nm and 1550nm communication wavelengths.

BinOptics Corp.

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