Optical component start-up Inplane Photonics today announced its launch and said it had raised more than $20 million in a first fundraising round from Jerusalem Venture Partners (JVP) and Morgenthaler Ventures. The company valuation was not disclosed.
Inplane develops and manufactures integrated optical components for small, low-cost platforms. Inplane says its technology will dramatically reduce systems' costs, size, and complexity while increasing reliability in optical networks.
The company said the components would enable the large-scale deployment of 10 and 40 Gbps systems, thereby facilitating the development of new architectures and operational innovations in the optical sector.
Inplane Photonics was founded in November 2000 by Drs. Joseph Shmulovich and Allan Bruce, both of whom are optical scientists. The company is based in South Plainfield, New Jersey.
JVP general partner and Inplane board member Glen Schwaber said, “The market for optical components is changing. Inplane's components will enable providers to reduce operating costs while improving performance and return on investment."
Inplane Photonics CEO and founder Dr. Joseph Shmulovich said, “We recognize that more powerful and affordable communications systems rest on our ability to mass produce significantly superior optical components that are tailor-made to our customers' needs. Our mission is to become the key developer and provider of these components, which will make next generation networks a reliable, cost-effective reality."
Jerusalem Venture Partners is an international venture capital firm focused on investing in early-stage companies in five core areas: optical networking, data communications, wireless communications, e-Business infrastructure and Internet service infrastructure. The firm has offices in Jerusalem, New York and London. JVP has more than $650 million under management and has invested in nearly 30 companies since it was founded in 1993.
Published by Israel's Business Arena on 4 March, 2002