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LightPointe Funding Round Attracts $17 Million
Feb 2004
SAN DIEGO, Calif., Feb. 10 -- LightPointe, a designer and manufacturer of optical wireless products based on free-space optics (FSO) technology, has announced a $17 million round of financing that was led by Rho Ventures and included China-based Huawei Technologies Co. Ltd. and existing investors Sevin Rosen Funds, Ampersand Ventures, Telecom Partner, Cisco Systems Inc. and Corning Inc.

John Griffin, LightPointe president and CEO, said the funding will allow the company to accelerate its business activities to capitalize on an improving economy. He said the new funds will be used to fund global marketing, product development and general working capital.

The company, which sells optical wireless products in more than 60 countries, has raised a total $71 million in venture capital. During 2003, LightPointe said, its sales grew at the fastest pace in China, where Huawei markets and sells LightPointe optical wireless products under the Huawei brand.

Last year, LightPointe introduced its optical wireless product, FlightStrata, a multiple-beam tracking system that incorporates multiple transmitters and a receive lens array to address scintillation and temporary path obstructions. LightPointe is part of the Cisco Service Provider Solutions Ecosystem Partner Program, has a global reseller agreement with Siemens AG, and sells its products in North America under the Corning brand. LightPointe is also a partner with ADC for solutions to mobile wireless service providers combining LightPointe's Flight products with ADC's Digivance products.

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