Sagitta Raises $15.3 Million in 2nd Funding Round

HAUPPAUGE, NY, Jan. 29 -- Sagitta Ltd., a supplier of process equipment for the fiber optic industry, announced it has raised $15.3 million in its second round of venture funding. Pitango Venture Capital led the round, joined by Tamir Fishman Ventures, Ascend Technology Ventures, current investors and a new strategic investor.

Sagitta launched its first product in fiber optics last year: the Gemini-Pi, a process system to integrate polishing, cleaning and optical metrology for fiber optic components and connectors. The Gemini converts what is typically a manual work cell operation to an automated process that produces components with superior optical properties and higher yields. The machines are deployed as a backbone in production lines for AWGs, v-groove blocks, connectors and ferrule assemblies at lower cost and with increased scalability.

The company gained several new board members, including Moshe Levin from Pitango Venture Capital and Avner Shelem from Ascend Technology Ventures. The $15.3 million is in addition to the $5 million raised in the first round almost two years ago from Tamir Fishman Ventures and JDS Uniphase.