Advanced Technology Ventures Leads $28 Million Round for Optical Firm Alfalight
Source: Advanced Technology Ventures
Developer of High Power Pump Laser Diode Aims to Deliver Significant Power Increase At Improved Cost
PALO ALTO, Calif. Advanced Technology Ventures (ATV), a leading venture capital firm focused on emerging growth companies in the Internet infrastructure, software and services, communications and healthcare industries, has continued its strong pace of investing in optical networking and communications by leading the $28 million second round of venture funding for Alfalight, Inc., an early stage, high-power diode laser company. This round also included Interwest Partners, Centerpoint Ventures and The Infrastructure Fund, in addition to the original first-round investors led by ARCH Venture Partners in Chicago.
``Alfalight has assembled an exceptional high power laser development team and we have full confidence in the team s ability to deliver laser modules that are significantly more powerful and less costly per Watt than what s available today, said Advanced Technology Ventures general partner, Jack Harrington. ``Alfalight is primed to be a key player, taking on the leading firms in this space. Its improved architecture for increased power will set the market on fire.
Alfalight is developing several high-power pump laser products targeting applications in the telecommunications markets. Many of its technologies were developed at the University of Wisconsin -- Madison. The company received $6.1 million in first-round venture funding just 7 months ago.
``We are excited to be involved with a strong group of VCs whose operational experience in communications adds value to our rapidly growing company, said Alfalight CEO Eric Apfelbach. ``Our technology clearly plays to the optical communications markets where Advanced Technology Ventures is a leader.
Alfalight s products are based on intellectual property that is exclusively licensed from the Wisconsin Alumni Research Foundation (WARF). They are targeting optical communications applications that benefit from their high power, single-mode 980 nm technology, and the metro amplifier market with their 980 nm aluminum-free, multi-mode technology.
Alfalight will use some of the money to complete a 20,000 square-foot building in Madison, Wis. The company also has a 15,000 square-foot packaging facility near Montreal, Canada, which opened in September.
About Advanced Technology Ventures
Founded in 1979, Advanced Technology Ventures is a leading venture capital firm whose management experience, technology expertise, global network of industry contacts and collaborative style has helped more than 125 companies navigate from inception to IPO and beyond. With approximately $750 million currently under management, ATV s investment philosophy centers on collaborative, active participation with the management teams of its portfolio companies. For more information, visit http://www.atvcapital.com
About Alfalight
Alfalight is an early stage, venture funded diode laser company based in Madison, Wisconsin. Founded in Nov. 1998 by a technical team from the University of Wisconsin, Alfalight designs, develops, manufactures and packages high power diode lasers for the optical fiber communications market. More information is available at http://www.alfalight.com
Contact: Miller/Shandwick Technologies Karin Taylor, 650/532-4029 ktaylor@miller.shandwick.com
Miller/Shandwick TechnologiesKarin Taylor, 650/532-4029
ktaylor@miller.shandwick.com
E-mail: ktaylor@miller.shandwick.com
Web site: http://www.alfalight.com
