Picolight Closes $10M Funding Round

BOULDER, Colo., Jan. 23 -- Picolight, a maker of high-speed optoelectronic subcomponents and fiber optic transceivers, announced this week it closed a $10 million funding round on Dec. 30 led by St. Paul Venture Capital and BA Venture Partners (Bank of America).

"This round strengthens our balance sheet and, 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 subcomponent products," said Stan Swirhun, Picolight's CEO.

For more information, visit: www.picolight.com