Sunday, September 11, 2005

Wave7 Optics Raises $18 Million for its FTTP

Wave7 Optics, a start-up based outside of Atlanta, raised $18 million in new funding for its fiber-to-the-premises (FTTP) equipment for residential and business services. The company's product portfolio supports a variety of deployment options, based on IP and Ethernet or ATM standards.

The new funding included $15 million from the existing investor group of Advanced Technology Partners, Armada Venture Partners, Lucent Venture Partners, Mellon Ventures, Morgenthaler Ventures and Oak Investment Partners and $3 million from new investor, Ballast Point Ventures, a venture capital firm affiliated with Raymond James Financial, Inc. Wave7's current VC funding now stands at $86.5 million.