Former Israeli start-up Mintera Corporation has obtained an $8 million credit line from Silicon Valley Bank (SVB). The company makes high bit-rate optical transport systems.
Mintera CFO John Anselmi said, "SVB's support will allow us to finance our working capital needs and adds an important source of cash to fund our operational growth."
Mintera was founded in Israel in 2000 by Menachem Abraham, but closed down its Israeli operations, moved to Boston and its management and directors are all Americans. It was the third company founded by Abraham, after Chipcom, which was sold to 3Com Inc. (Nasdaq: COMS) for $775 million, and Prominent, which was sold to Lucent for $200 million. After Mintera, he founded DALI Software Inc.
Mintera's investors include Star Ventures, RRE Ventures, Portview Communications, Court Square Ventures LLC, and JDSU. Mintera has raised $53 million to date in two financing rounds and the current credit line.
Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2008
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