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Picolight Closes $10M Funding Round
January 21, 2005
"This round strengthens our balance sheet and together with the strong revenue growth we experienced in 2003, will allow us to achieve profitability by the middle of 2004. We continue to see increasing customer acceptance of our transceiver and laser sub-component products", said Stan Swirhun, CEO of Picolight.
Bill Cadogan, Vesbridge Partners Venture Partner, said, "Picolight is uniquely positioned in the fiber optic transceiver space with new and existing products, ownership of the key sub-components, a strong patent portfolio, and leadership in 1310nm vertical cavity surface-emitting laser (VCSEL) technology". Cadogan added, "The company has the first commerically available 1310nm VCSEL which will redefine and dominate access networks in the same way 850nm VCSELs dominate enterprise networks".
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