Thursday, September 13, 2007

Gemfire Raises $37 Million for Integrated Photonics

Gemfire, a start-up based in Fremont, California with manufacturing in Scotland, raised $37 million in funding for its integrated photonics sub-systems and planar lightwave circuits for telecom and defense related applications.

The Gemfire "PhotonIC" planar technology platform enables wafer-scale processing to produce optical components, such as VMUXs, Athermal and standard AWGs, TODCs, and VOAs. Gemfire has been shipping its Telcordia qualified products to dozens of top tier optical system companies all over the world since 2003.

The company noted that the funding round was expanded to more than double the face value of the offering to accommodate the interest level of several new investors. In addition to the participation of previous investors, the new investor group, led by Loudwater Partners, included Centaurus Capital, Uberior Equity Ltd., and Palo Alto Investors. ThinkEquity Partners, acted as the exclusive placement agent for the offering.