BinOptics Attracts $13M in Funding
ITHACA, N.Y., Dec. 20, 2011 — BinOptics Corp. has closed on $13.3 million in new funding, which it will use to continue the expansion of its product lines and to accelerate the development of its new products.
Five new investors participated in this round of funding: Advantage Capital Partners, Enhanced Capital Partners, Gefinor Ventures, Onondaga Venture Capital Fund and Rand Capital. They join existing investors ArrowPath Venture Partners, Cayuga Venture Fund, Draper Fisher Jurvetson and FA Technology Ventures.
The funding will help BinOptics meet the increased demand for its 2.5 and 10 Gb/s distributed feedback laser products, the company said. In addition, the funding will help to create new jobs at the organization, which currently employs about 50 people. It plans to hire additional engineers and technicians in 2012.
BinOptics manufactures semiconductor, distributed feedback and FP lasers, as well as lasers with integrated monitoring photodiodes.
For more information, visit: www.binoptics.com