Thursday, December 15, 2011

BinOptics Raises $13.3 Million for Lasers of Photodiodes

BinOptics, a start-up spun out of Cornell University in 2000, closed $13.3 million in new funding for its lasers and monolithically integrated optoelectronic components . The company will use the funding to continue expansion of its product lines and to accelerate development of new products.

Five new investors participated in this round: Advantage Capital Partners, Enhanced Capital Partners, Gefinor Ventures, Onondaga Venture Capital Fund, and Rand Capital. Existing investors ArrowPath Venture Partners, Cayuga Venture Fund, Draper Fisher Jurvetson, and FA Technology Ventures also participated.

BinOptics uses proprietary processes for manufacturing lasers and integrated photonic devices at low cost. In recent years, the company has established a strong global market presence by shipping more than 25 million Fabry-Perot (FP) and DFB lasers in high-growth markets such as EPON and GPON. The company is based in Ithaca, New York.

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