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August 31, 2007
Optical Back In Again - Latest is Syntune With $7.1M Second Round
Established optical startups continue to attract venture after several years of being out of favour. The latest is Syntune AB, which has raised $7.1M, in what looks like an internal second round financing. The startup that develops lasers components for use in telecoms equipment raised the fresh capital three years after its similarly sized first round.
Other investors who participated in the round were Teknoinvest, Vision Capital and existing private investors [via Tornado Insider].
This deal is one of several in the past year for optical components and subsystem deveopers, as the optical networking components and equipment suppliers market gets into recovery mode.
Looking at the a:c euro's archives you'll see that CoreOptics, InTune, Xelerated, and Transmode, all Euro startups, have raised fresh capital in the past twelve months.
Recent announcements by Syntune suggests that demand is growing for the type of lasers it makes and it has signed up CyOptics whose equipment expedites the manufacturing of Syntunes agile light tuners.
It is commercializing laser tech that was developed in one of the European Commission's R&D programs - one of its co-founders was involved in 6 of them, but the really interesting thing is that Syntune's founders also worked together before this venture in a startup called Altitun.
During the last venture cycle, the acquisition of Altitun by ADC for $872M gave its VC backers a homerun on an 18 month investment, if memory serves. One of those backers was InnovationsKaptial.
Read Optical comms market poised for recovery (EE Times Europe)
Posted on August 31, 2007 04:04 AM | Posted to News And Updates | Permalink
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