- 28 February 2005 -

Funding T-Networks InP

T-Networks Inc, manufacturer of 10Gb/s and 40Gb/s Indium Phosphide optical transmitters has closed its Series C financing with an investment of $5.75m bringing the company's total invested capital to $60m.

T-Networks' third round of equity financing was lead by TL Ventures with participation by investment firms Greylock Partners, US Venture Partners, and Sequoia Capital. The funds raised will be used to scale the company's manufacturing operations, drive new product innovation and further expand the global sales and marketing efforts.

"We have been impressed by the team's ability to execute and grow the business in tough market conditions," said Javier Fernandez, TL Ventures partner and newly appointed T-Networks director. "This investment demonstrates our confidence in T-Network's ability to strengthen its leadership position in the optical transmission space."

"Indium phosphide modulators continue to improve the power, cost, and size of optical networks. The company's customer base spans North America, Europe and Asia resulting in our products being deployed in networks worldwide" said
T-Networks CEO and president Aaron Fisher,