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Picolight Round Nets $14.5M
Aug 2005
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.

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The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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