Lambda Opticalsystems Raises $22 M

RESTON, Va., Nov. 15 -- Optical network provider Lambda Opticalsystems announced today it has secured $22 million in Series B1 funding from three telecommunications venture firms, Sevin Rosen Funds, ComVentures and PacRim Venture Partners/SmartForest Ventures.

The company said it will apply the new funding toward product development and sales and marketing initiatives with government and telecommunications carrier customers.

The funding follows Series B funds awarded in April 2004, which Lambda said it invested primarily in the development of its Lambda Node 2000 optical switching platform and its software suite of call control and integrated network management systems. The company said it has also concluded product trials with carriers and government networks, including recent testing at the University of New Hampshire InterOperability Laboratory that confirmed Lambda Node 2000's interoperability with multivendor implementations of the generalized multiprotocol label switching standard. This initiative was sponsored by NTT, Japan.

For more information, visit: www.lambdaopticalsystems.com