MergeOptics receives R4 funding as it rares for IPO
Established in November 2000, having shipped over 75.000 optical modules, and almost raring to an IPO, MergeOptics has attracted a new lead investor – KTB – in its fourth VC round €5.3m / $8.5m to grow its position in the fast growing 10Gbit/s transmission module market. Existing investors Earlybird, Target Partners and DVC also joined the round.
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MergeOptics GmbH supplies low power, fiber optic components and subsystems for data rates of 10Gbit/s and beyond. Founded in Germany in September 2000, the company develops highly integrated components for the rapidly growing high-speed fiber optic data transfer market. It maintains partnerships with several leading German universities and research facilities, including the prestigious Heinrich-Hertz- Fraunhofer Institute in Berlin, Germany.
Pre-IPO funding round
The investment will be used to finance MergeOptics’ growth, finance the market introduction of additional product lines for 40Gbit/s and 100Gbit/s and finance the expansion into the US market. It opened a new office recently in Milpitas, California.
Dag Neumeuer, CEO of MergeOptics, said, “We are very pleased to have KTB added to our investor-base, with it’s expertise in particular in late stage financing.” Norbert Kopp, investment partner at KTB, commented, “MergeOptics is one of the most innovative companies in the field of fiber optic components. I believe that MergeOptics has the capability to become one of the leading providers of transmissions modules of 10Gbit/s to 100Gbit/s. These components will meet a strong demand from the fast growing Internet TV activities.”
“MergeOptics is an IPO candidate with an attractive fast growing business with over 1000 percent increase in turnover from 2005 to 2007. The purpose of this round of financing was to provide MergeOptics with funds needed to finance the ongoing growth and to prepare for a planned IPO. KTB will actively support the IPO.”
KTB is a venture capital company focused on growth and turn around investments in small and mid sized companies. KTB stands for Technologie Beteiligungsgesellschaft mbH & Co KG; its largest investor is tbg, a daughter of the Kreditanstalt für Wiederaufbau (KFW).
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© Chilli Publishing Ltd 2008 |
26 JUN 2008 |
