"Globes" has learned that Israeli start-up Memlink has just completed raising $21 million at a company value of $60 million, after money.
Investors in this round include US communications giant Lucent, the venture capital arm of telephony company Bell Southwestern, the Oak Ventures fund and the Redwood Ventures fund, seed investors in Cerent, which was sold to Cisco for more than $7 billion.
Shareholders include Cerent founder Rajvir Singh, who invested in the company's initial round and is a director, the Israel Seed Partners fund and Tel Aviv Stock Exchange listed company Nisko.
In May, Memlink completed a $3 million seed financing round, based on a company value of $8 million, after money. Singh will join Memlink's management team.
Memlink was founded in 1999. The Herzliya Pituah-based company develops optical switches components and sub-systems. The company will initially offer several optical cross-connect options.
Published by Israel's Business Arena on 8 August, 2000