Israeli start-up ChiLight Technologies has raised $4 million in its first financing round, led by the Yozma fund. The company value for the round was not disclosed, but is estimated at less than $10 million, before money.
Also participating in the round were Lucent Ventures, Lucent Technologies’ investment arm, and Ofer Technologies. Lucent Ventures also invested in Chromatis before its acquisition by Lucent Technologies.
ChiLight Technologies developed optical communications technology, based on new developments in physics. The company’s components will enable communications networks operators to transmit much larger quantities of information than can be transmitted on current infrastructure, while sharply reducing costs.
ChiLight Technologies plans to launch three product lines. All three can work on several channels simultaneously, without converting light to electrons. Each channel transmits over 10 Gbps. The company’s first product, a wavelength converter, is expected to undergo testing by potential customers in the second quarter of 2002.
The company, founded in September 2000, is based in the Ness Ziona science park and employs 14 staff, including seven PhDs.
Published by Israel's Business Arena on August 7, 2001