Onix Microsystems Raises Over $95 Million

RICHMOND, Calif., Aug. 6 -- Onix Microsystems Inc., a developer and manufacturer of optically transparent switching engines for communications networks, recently completed its final close of Series C funding, having raised over $95 million in equity and debt financing.

Participants in this final close, led by JK&B Capital, included Deutsche Venture Capital, DRW Venture Partners, Merrill Lynch Ventures, Taiwan Special Opportunities Fund III, and other strategic institutions. Participants in the first close of this series included Analog Devices Inc., Alliance Select Investors, Essex Private Placement Fund, Millennium Technology Ventures, Randolph Street Partners, Sinwave Venture Capital Limited, Trust Company of the West, and Zimmer Lucas Partners. Previous-round investors Bank of America Venture Partners, Advanced Technology Ventures, and Azure Capital also participated. Onix also secured a $20 million capital equipment loan agreement with Western Technology Investments, Silicon Valley Bank, and GATX Ventures Inc.

"Onix is excited to be working with this investment team and very much appreciates the confidence they are showing in our technology and product strategy," said Steve Panyko, President and CEO of Onix Microsystems Inc. "We expect that this additional funding will further enhance our capabilities of delivering our all-optical switching engines to market."