Founded by ex-Bell Labs employees, InPlane Photonics develops amplifiers for optical networks.
Together with Morgenthaler Partners, Israeli fund Jerusalem Venture Partners (JVP) has led a $7 million financing round for US company InPlane Photonics. The two funds also participated in the company’s first financing round. In addition, Comerica Bank granted New Jersey-based InPlane Photonics a $7 million credit line. The investments bring the total raised by the company to $30 million in two rounds.
CEO Joseph Shmulovich and CTO Allan Bruce, two former Bell Labs employees, founded InPlane Photonics in 2000. The company’s competitors include Teem Photonics of France, which acquired optical amplifier technology from US company Northstar; Australian company RedFern, which has raised over $30 million; Neophotonics, which acquired veteran company Micro Lightwave; and NKT, created by a merger between Danish companies Cisilias and Ionas.
Published by Globes [online] - www.globes.co.il - on March 26, 2003