Rayteq Raises $4.5 Million

TEL AVIV – The Israeli startup company, RayteqPhotonic Solutions, Ltd. announced today it has raised $4.5 million in itsfirst round of venture capital financing from Polaris Venture Capital andAscend Technology Ventures. This is the first closing in what is intendedto be a $6.75 million round.

Rayteq was established in January 2000 by Uzi Eran and Dr. VladimirSolodovnikov. Eran is the former CEO of Fruitonics, a subsidiary of El-op.Prior to founding Rayteq, Eran managed Orbotech’s operations in Western USA.Rayteq received its initial $1 million in financing from private investors.Rayteq develops next generation, high power pumps and optical amplifiersthat enable capacity expanding WDM and DWDM applications. Rayteq’s coretechnologies are the patented SuperFocus, a high brightness source andproprietary fiber laser designs for efficient power conversion. Applicationsof Rayteq’s products range from ultra long-haul networks through metro anddistribution to access networks.

http://www.rayteq.com