John Griffin, LightPointe president and CEO, said the funding will allow the company to accelerate its business activities to capitalize on an improving economy. He said the new funds will be used to fund global marketing, product development and general working capital.
The company, which sells optical wireless products in more than 60 countries, has raised a total $71 million in venture capital. During 2003, LightPointe said, its sales grew at the fastest pace in China, where Huawei markets and sells LightPointe optical wireless products under the Huawei brand.
Last year, LightPointe introduced its optical wireless product, FlightStrata, a multiple-beam tracking system that incorporates multiple transmitters and a receive lens array to address scintillation and temporary path obstructions. LightPointe is part of the Cisco Service Provider Solutions Ecosystem Partner Program, has a global reseller agreement with Siemens AG, and sells its products in North America under the Corning brand. LightPointe is also a partner with ADC for solutions to mobile wireless service providers combining LightPointe's Flight products with ADC's Digivance products.
For more information, visit: www.lightpointe.com