Cisco, Corning Join LightPointe Funding
SAN DIEGO, Calif., July 17 -- Cisco Systems Inc. and a unit of Corning Inc. joined other investors in providing $33 million to LightPointe, a start-up manufacturer of optical transmission equipment. LightPointe, which now has raised $51 million in less than ten months, designs and makes products allowing telecommunications carriers to speed deployments of optical systems in metropolitan areas.
Earlier this month, Corning, joined by Lehman Brothers Holdings Inc. and Intel Corp., took part in a $45 million financing of year-old Richardson, Texas-based optical component maker Celion Networks. Joining Cisco and Corning in LightPointe's latest funding round were Sevin Rosen Funds, Ampersand Ventures and Telecom Partners.
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