Optoelectronics Firm Quantum Photonics Gets $27.6M Round Two
From VentureWire Feb. 14, 2002: By Lizbeth Scordo JESSUP, MD. -- Quantum Photonics, a developer and producer of optoelectronic components, modules, and sub-systems for telecommunications and data communications applications, said it has closed its second round of funding with $27.6 million.
New investors, Boulder Ventures, Core Capital Partners, Davenport Capital Ventures, Intersouth Partners, and Kinetic Ventures, co-led the round with participation from new investors, Draper Atlantic, EDB Investments, and Riggs Capital, along with previous investors, Optical Capital Group and The Grosvenor Funds.
William Heflin, of Kinetic Ventures; Andrew Jones, of Boulder Ventures; Don Rainey, of Intersouth Partners; and Jonathan Silver, of Core Capital Partners will join Quantum's board of directors, bringing the total to eight.
Quantum said it will use the funding to expand its sales and marketing, achieve full-scale production of its product lines, and to bring its technology to market. The company would not disclose when it plans to reach profitability.
Quantum has raised $35.6 million to date.