Broadband optical networking component vendor BroadLight Inc. announced today that Siemens Venture Capital had added to BroadLight's Series C round, bringing the total round to $13.5 million. This round had a first closing on February 11th, 2004 led by new investors Israel Seed Partners, with participation by prior investors Star Ventures and Delta Ventures and two strategic investors.
Ramat Gan-based BroadLight is a broadband passive optical networking (BPON) component vendor that supplies solutions to Tier 1 equipment vendors who are introducing fiber-to-the-premises (FTTP) systems.
"Siemens is investing in BroadLight because the company has the product mix, business plan and management team to be successful," Bjoern Christensen, president and CEO of Siemens Venture Capital said in a statement.
The company is currently shipping production quantities of its BPON MACs, optical transceivers, and software to leading equipment vendors around the world.
BroadLight said that the funds will be used to set up its headquarters in the USA, expand its customer base, and increase R&D efforts for standards compliant PON transceivers, semiconductor components and software stacks.
Published by Globes [online] - www.globes.co.il - on Monday, March 15, 2004