|
| [April 26, 2005] |
 |
Polychromix, Inc. Welcomes New Investor Lighthouse Capital Partners
WILMINGTON, Mass. --(Business Wire)-- April 26, 2005 --
Lighthouse Capital Partners assists Polychromix in expanding development of innovative wavelength management solutions based on its core diffractive-MEMS technology
Polychromix(R), Inc., a leading developer of modular optical subsystem solutions for optical networking and molecular spectroscopy, today announced three million dollars in additional venture funding. New investor, Lighthouse Capital Partners joins Siemens Venture Capital, Seed Capital Partners (Softbank), Vanguard Ventures and others in bringing the total investment in Polychromix to more than $18 million.
Polychromix's suite of advanced optical channel-management products, based on its Dynamic Channel Orchestrator(TM) (P-DCO(TM)) platform, have secured multiple purchase orders and design wins from telecommunication OEMs over the past two years. Polychromix will use the additional capital to expand its research and development activities to meet growing market demand for optical MEMS (MOEMS) applications. New market development areas include wavelength selective switching (WSS) solutions in optical telecommunications and near infrared spectroscopy solutions for the scientific instrumentation markets.
WSS solutions provide advanced, remote configuration of optical networks, allowing carriers to cut operating costs by reducing wavelength provisioning and management time from months to minutes, and increase revenue by providing advanced wavelength grooming and new services to end-customers. The funding also will support Polychromix's expansion into the molecular spectroscopy market with its recently launched near infrared Digital Transform Spectrometer (DTS)(TM) product family.
"Polychromix has succeeded in a tough optical telecommunications market and has distinguished themselves from their competitors with their product's unique functionality and attractive ROI to win current carrier bids," said Ned Hazen, general partner, from Lighthouse Capital Partners. "We are also very excited about being part of the advancement of a new generation of scientific instruments being developed for applications in the pharmaceutical, agricultural and petro-chemical industries."
Lighthouse Capital Partner's portfolio features early and expansion stage technology companies that have received equity funding from top-tier venture capital firms. Lighthouse puts their financial resources behind the vision and commitment of the most talented entrepreneurs in their market segments.
"It is our commitment at Polychromix to deliver cost-effective, advanced technology solutions to our customers. This additional funding from Lighthouse Capital Partners signals an understanding of the market and a commitment to the further growth of Polychromix as a full-scale manufacturing company capable of meeting our customer's demands and expectations," said Brian Mitchell, president and CEO of Polychromix. "Customer engagements have fueled Polychromix's product development and will continue to do so."
The Polychromix Dynamic Channel Orchestrator (P-DCO(TM)) is a programmable optical subsystem platform based on patented diffractive MEMS technology that can attenuate, equalize or block wavelengths in telecommunications networks. The P-DCO family of products allow service providers to dynamically and remotely provision and control optical wavelengths, resulting in considerable operational and capital expense reductions.
About Polychromix
Polychromix, a privately held advanced optical networking technology company headquartered in Wilmington, Massachusetts, offers modular optical subsystems based on an innovative core technology platform that enable dynamically re-configurable optical networks. Polychromix's suite of Channel Management Solutions addresses the capital and operating expense challenges that both carriers and network systems vendors face. Additionally, they help enable the creation and rapid provisioning of new revenue-generating services. Carriers can dynamically provision and control optical channels remotely from a network operating center, effectively replacing "truck rolls" (sending out maintenance trucks) with "key strokes" (entered at a network operating center terminal). For more information, visit www.polychromix.com.
About Lighthouse Capital Partners
Lighthouse Capital Partners www.lcpartners.com is an independent partnership providing debt and equity financing to early-stage technology companies backed by top-tier venture capital firms. They focus on giving startups the flexible support and unwavering commitment needed to build market-leading companies.
[ Back To Call Center Software Community's Homepage ]
|
INDUSTRIES
INDUSTRIES
