Mar, 2002 : Transparent Networks Secures $20m in Funding

📅 March 1, 2002 - Transparent Networks, Inc. (transparentnetworks.com), adeveloper of photonic switching systems, has announced the completion of $20million in second round venture funding. This round brings the total fundsraised by the company to $30.2 million since its inception in June 2000.

At a time when investors are being more cautious with their investments,Transparent says this funding is an expression of the confidence thatinvestors have in the company's ability to solve the challenges of photonicswitching in the all-optical network. "Our investors recognize theopportunities our cutting edge technology provides in the transparentoptical switching market. With the financial strength and stability thisfunding provides for Transparent, we're in an ideal position to execute ourstrategic plan to deliver a flagship product that meets our customers' highstandards," said Dr. Janusz Bryzek, Transparent's president and CEO.
The lead investor in this round was U.S. Venture Partners. The latest roundincluded pro-rata funding from previous round investor Benchmark Capital.
An innovator in the field of MOEMS, Transparent Networks has developedseveral technologies and extensible architecture, founding a new breed oftelecommunications photonic switching products. Transparent developsproducts designed to reduce the cost, size, and power of carrier corenetworks. Target customers are carriers and system vendors supplying coreoptical switching infrastructure for the public network.
"Transparent Networks has the potential to dramatically reduce the capitaland operational expenditures associated with carrier deployment ofhighly-scalable transparent optical switches. Their intellectual propertycreates significant barriers to competitive entry," said Stuart Phillips,general partner at U.S. Venture Partners. "The company's innovative iTOSSarchitecture will yield significant performance and cost benefits in severalcentral-office optical switching applications including DWDM lineprotection, trunk provisioning, and junction switching. This combination,coupled with management's multi-disciplinary engineering expertise - MOEMS,optics, packaging, control systems and electronics - and proven trackrecord, will produce critical products that enable carriers to be successfulin solving the bandwidth needs of their customers."

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