Infinera raises $52 M additional capital

By SiliconIndia   |   Wednesday, 20 October 2004, 07:00 Hrs
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BANGALORE: Infinera, a provider of Digital Optical Networking systems based on breakthrough Photonic Integrated Circuit technology, today announced the completion of a new $52M round of funding, bringing total capital invested in Infinera to $205M. Infinera plans to use the investment capital to support deployments with more telecommunications carriers worldwide. Infinera also announced that UTStarcom (NASDAQ: UTSI) and CTC (Itochu Techno-Science Corporation) have become strategic investors in Infinera and are collaborating with Infinera to provide optical networking solutions in Asia.

"We began carrier field trials earlier this year and we’ve been very pleased with the high level of customer interest and enthusiasm," said Jagdeep Singh, CEO of Infinera. "We wanted to take advantage of our momentum by expanding into new customer opportunities and by further strengthening our customer support capabilities. In an environment where many incumbent players have cut R&D, cancelled products, and reduced sales and support staff, we are pleased to continue to invest in helping our customers deploy innovative technology solutions."

"We are fortunate to have the backing of a broad group of sophisticated investors, all of whom are participating fully in this round," continued Singh. Infinera’s investor group includes many of the world’s leading venture capital firms as well as a strong group of strategic corporate investors. Venture backers include Accel Partners, Benchmark Capital, JAFCO Ventures, Kleiner Perkins Caufield & Byers, Mobius Venture Capital, Sprout Group, Sutter Hill Ventures, Venrock Associates, and Worldview Technology Partners. Infinera’s strategic investors include new investors UTStarcom, a global leader in IP access networking and services; and CTC, a leading provider of telecom and IT total solutions in Japan; as well as previously announced firms Agilent, Applied Materials Ventures, Cypress Semiconductor, and Juniper Networks.

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