Sabeus Photonics Garners $16 Million in Development Funds

CHATSWORTH, Calif., Dec. 11 -- Sabeus Photonics Inc. has attracted an additional $16 million in financing. The company plans to use the funds to develop and market additional `"high-concept" optical devices for optical networks. It will also expand its manufacturing facilities to provide higher capacity for current and future devices. This is the first closing of the company's third round of funding, bringing total financing to date to over $24 million.

"Sabeus is a most refreshing startup," said Brad Jones of Redpoint Ventures, which led the company's first investment round, of the three-year-old venture. "Not only does it have breakthrough technology that will sustain its market position for years to come, but it is already shipping products that are acknowledged as the very best in their category."

Redpoint joins other investors in this round, which was led by TL Ventures and includes Digital Coast Ventures and CSFB Ventures.