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Novera Optics Secures $7.4 Million of Funding in New RoundDeveloper of fiber optic access solutions (March 06, 2006)
Novera Optics, a developer of fiber optic access solutions, today announced that it has received $7.4 million in new funding to support its ongoing development of new FTTx products and penetration into global markets. Along with Enterprise Partners, which led the funding round, existing investors including Redpoint Ventures, Octane Capital Management, KTB Ventures, Meritech Capital Partners, and Saints Ventures participated to show their ongoing backing of Novera.
?It is gratifying to receive continuous support from our investors, said Dr. Yoon Kim, CEO and founder of Novera Optics. ?This new financing signifies the investment communitys confidence in Noveras ability to provide exceptional cutting-edge, cost-effective FTTx solutions.
Last year Novera Optics delivered more than 50,000 lines of its new wavelength division multiplexed (WMD) transport technologies to Korea Telecom. The state-of-the-art products in this high-volume commercial deployment will be used in fiber-to-the-home (FTTH) and fiber-to-the-curb (FTTC) applications.
?We are very pleased to have led this round of funding for Novera; they have certainly earned our trust over the years, said Bill Stensrud, general partner of investment firm Enterprise Partners. ?Novera has not only been able to survive the tough times in the telecom market, it has managed to re-emerge as a lean and innovative company offering one of the most exciting solutions in FTTx.
About Novera Optics Inc.
Novera Optics is focused on developing low-cost, high-performance optical access solutions to overcome the bandwidth bottlenecks in last-mile networks. Its advancements in developing wavelength division multiplexed (WDM) transport technologies are positioning Novera Optics as a leader in cutting-edge, enhanced-performance solutions for FTTx applications.
Novera Optics next-generation transport platform is predicated on four features: (i) simplicity of setup, operation, maintenance, and troubleshooting of colorless optical networking units; (ii) security thanks to its point-to-point lambda connections and top-flight QOS; (iii) scalability with future bit-rate updates and ability to deliver mixed bit rates from Mbps to Gbps; and (iv) service independency that offers increased revenue opportunities with mixed-service capabilities over a single infrastructure.
Founded in 1999, Novera Optics has an office in Santa Clara, Calif., and a wholly owned subsidiary in Daejeon, South Korea. For more information please contact +1 (408)-496-6550, extension 303.
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