Photodigm, Inc. Receives $2.5M in Equity Funding
DALLAS, Texas. Photodigm, Inc., a Texas corporation with its headquarters near Richardson s Telecom Corridor, announced today that it has closed its initial round of seed funding, totaling $2.5M. Led by Compass Technology Partners, the round included Arkoma Venture Partners, Corning Innovation Ventures, a division of Corning Incorporated and Triquint Semiconductor.
Photodigm was founded in early 2000 to commercialize recent advances in optical grating and semiconductor laser technology. With a strategic relationship with Southern Methodist University, Photodigm is developing state-of-the-art optoelectronic components for next generation telecom and datacom systems. The company is focused on the integration of photonics at the wafer level, and anticipates a coming revolution in photonic integrated circuits similar to the one brought about by the integration of silicon transistors into integrated circuits. With its unique semiconductor laser architecture, Photodigm s technology promises major improvements in the cost and performance of photonic devices.
"The key to photonics integration is in learning how to control the photons on a chip," said John Spencer, CEO of Photodigm. "And the outcoupling of light from the laser is the keystone technology in this process. With this initial funding we expect to complete our development of the GO LaserTM technology and our initial products."
"We are excited about the opportunity to be involved with Photodigm at this stage of their development" said Alain Harrus, General Partner of Compass Technology Ventures.
Photodigm s expertise in combining optical grating technology with a unique semiconductor laser architecture is a disruptive technology with the potential to fundamentally change the cost equation in the optical networking marketplace.
"Greg Smith, President of Corning Innovation Ventures stated, "The optical components marketplace is a dynamic environment with new technologies being developed practically on a daily basis. We are excited about the new possibilities Photodigm s technology brings to the market, particularly in the laser to fiber interface, and pleased to be one of the initial seed investors."
"We are extremely pleased to participate in the initial funding of Photodigm" noted Steve Sharp, President and CEO of TriQuint Semiconductor. "Photodigm s technology addresses an area of strategic interest to TriQuint, and their products are synergistic with TriQuint s optical networking strategy."
About Photodigm
Photodigm, Inc. is a privately held company headquartered in Dallas TX. The company was founded in early 2000 to commercialize recent advances in optical grating and semiconductor laser technology. With a strategic relationship with Southern Methodist University, Photodigm is developing state-of-the-art optoelectronic components for next generation telecom and datacom systems. Visit the website at http://www.photodigm.com
About Compass Technology Partners
Compass Technology Partners invests in emerging, high-growth potential, public and private companies with a focus on science and technology, innovation, and intellectual property. They have invested in both the developers of new technologies and those making innovative applications of existing technologies. www.compasstechpartners.com
About Arkoma Venture Partners
Arkoma Venture Partners ("AVP") was founded in 1997 to provide primarily seed and first round equity financing in high technology start-up companies. Since inception, AVP has invested over $18 million in 26 companies. AVP recognizes that the ever-expanding bandwidth of communications networks is the next great frontier for visionaries in business and technological development. AVP s strategy is to partner with companies who possess the innovation, motivation, knowledge and business skills to take advantage of entrepreneurial opportunities specifically in the areas of: semiconductor/compound semiconductor components, telecommunications technologies and solutions, Internet-related systems and services, and enterprise software/application service providers. www.arkomavp.com
About Corning Incorporated
Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world s economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning s revenues in 1999 were $4.7 billion. www.corning.com
About TriQuint Semiconductor
TriQuint Semiconductor, Inc. is a leading worldwide supplier of a broad range of high performance gallium arsenide (GaAs) integrated circuits. TriQuints products span the RF and millimeter wave frequency ranges and employ analog and mixed signal circuit designs. They are used in wireless communications, telecommunications, data communications and aerospace systems. TriQuint offers both standard and customer specific products as well as foundry services. TriQuints two operations, in Oregon and Texas, are both certified to the ISO 9001 international quality standard. www.triquint.com
Photodigm, Inc. 3026 Mockingbird Lane #155 Dallas, TX 75205 www.photodigm.com
Contact: Jack Mattis Vice President, Business Development Phone: (972) 747-7721 Email: jmattis@photodigm.com
Jack Mattis
Vice President, Business Development
Phone: (972) 747-7721
Email: jmattis@photodigm.com
E-mail: jmattis@photodigm.com
Web site: http://www.photodigm.com