Picolight Round Nets $14.5M

LOUISVILLE, Colo., Aug. 17 --Picolight Inc., a Colorado-based maker of optical components and vertical cavity surface-emitting laser (VCSEL)-based optical transceivers, announced today it has completed a $27.5 million funding effort with the addition of $14.5 million in a combination of new equity investment and debt financing.

Growth Capital, a new investor, completed the second close with a $7 million equity investment and was joined by Orix Venture Finance LLC, which provided an additional $7.5 million in debt financing. Investor Growth Capital joins previous investors BA Venture Partners, Vesbridge Partners and Coral Capital Management, which invested a total of $13 million in the first round.

Picolight said it will use the new financing to expand its operations, scale its manufacturing process and extend its 1310-nm VCSEL products from 4-Gigabit fiber channel to 10 Gigabit Ethernet at long reach over single-mode fiber.

Picolight's products are used in high-bandwidth optical systems in data center, enterprise, storage area and metro networking markets.

For more information, visit: www.picolight.com