Feb 18, 2002 : eLuminant Gets Additional $5m Funding

📅 February 18, 2002 - NEC eLuminant Technologies, Inc. (eluminant.com) has announced that it has finalized a funding agreement with Yasuda Enterprise Development Co., Ltd. (yedvc.co.jp) to support eLuminant's growth infiber-based, broadband products and services.

Yasuda Enterprise Development Co., Ltd. is one of the largest venturecapital companies in Japan. Their investment of $5 million in eLuminant, inaddition to investments of $26 million announced last fall, bringseLuminant's total Series A funding to $31 million during the past fourmonths.
"We're very pleased that Yasuda shares our vision for the future of opticalnetworks and the development of passive optical network technology," saidDavid Montanaro, chairman and CEO of eLuminant. "We see significant interestin our technology from carriers around the globe and this funding will helpus leverage these opportunities."
eLuminant already serves several U.S. carriers and intends to partner withseveral international organizations to compete and serve customers on aglobal level. The company is developing a new generation of optical accessnetwork equipment that will enable telecommunications carriers to providehigh bandwidth data, voice and video to their business and residentialsubscribers.
eLuminant was spun off from NEC in 1998 to develop products that address thedemand for high-speed broadband communications. "We are excited byeLuminant's position in the market as a dynamic international developer ofnew fiber-based access products as well as a provider of well-accepted andbest selling broadband communications access equipment to the world'sleading carriers," said Taikuke Hitomi, general manager, YEDC.

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