All Optical Networks Announces 1st-Round Funding

SAN DIEGO, May 30 -- All Optical Networks Inc. announced today the closing of a $6 million Series A funding round and the addition of George Cagle as executive vice president of engineering and operations.

The funding round, led by ForeFront Capital, will be applied to commercializing AON's MetroScout transparent optical access multiplexer. The MetroScout is based on wavelength shift multiplexing (WSM) technology, which allows all optical translation of data signals from one wavelength to another in the 1310 nanometer regime.

Cagle, who will be responsible for leading AON's research and product development team, said, "The company presents an exceptional opportunity to uniquely and cost-effectively address specific network choke points, from metro-access through the core, that impede the viability and profitability of all-optical services. For example, our WSM technology enables service providers to quickly and economically respond to an unpredictable demand for bandwidth with a dynamic mix of bit rates common in metro-access environments."

The company also announced it is beginning to raise its Series B round and intends to use the proceeds to achieve profitability in 2003. Pacific Crest Securities will advise All Optical Networks in its capital-raising efforts.