Polatis Announces 2 Million in Backing
CAMBRIDGE, England, Jan. 22 -- Fiber optic switch developer Polatis Ltd. has announced a 2 million (Pounds) investment package from a venture capital syndicate. Polatis, based on Cambridge Science Park, is facing the issue how to transmit data around global networks without losing speed and capacity at the switching centers between networks, the company said.
To meet the demands of high-bandwidth optical communication networks Polatis has developed an all-optical switch technology that avoids OEO conversion.
It is every new start-up's dream to attract backing from a powerful venture capital syndicate, said Andrew Dames, chief executive and founder of Polatis. Polatis was set up with the aim of developing a key component of the 'Holy Grail' for next generation communication networks. Investment from VC's Alta Berkeley and 3i prove there is confidence in us achieving just that .
The cross-connect segment of the global telecom switching market targeted by Polatis is currently estimated to be worth $0.3 billion and is forecast to grow in excess of $5 billion by 2003.
Polatis is a spin-off of Sentec - a Cambridge-based ideas company that was set up with the aim of creating and then spinning-out new businesses.
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