Continuum Photonics, a
Billerica, Mass., maker of components for fiber-optic networks, has
raised $14 million in second-round financing for product
development.
The company said its photonic switch subsystems for high-speed
networks offer high-performance at a low cost and gobbling up less
power than other offerings. The platform will also be flexible
because it is wavelength, bit-rate and protocol independent.
With the new backing, Continuum will be able to bring
demonstration units to prospective customers. Because of the
economic slump, those sales targets aren't buying much of anything
these days.
The company's investors however, are confident that the product
is compel carriers to loosen their purse strings.
"With a clear understanding of what will motivate carriers and
equipment manufacturers to implement new technologies, Continuum's
photonic switch subsystems offer price and performance unmatched by
competitors," said Robert Fleming, Prism Venture Partners'
co-founder.
Prism and Flagship Ventures led the round. Harris & Harris.
Massachusetts Technology Development Corporation (MTDC),
Gainesborough, and private individuals also participated.
As part of their investments, Fleming and Flagship general
partner Steve Ricci join Continuum's board of directors. The company
was founded in 1999 and is privately held.
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