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iolon, Inc. Secures $53 Million in Second Round Funding

Source: iolon, Inc.

Bowman Capital Leads Second Round as iolon Develops Portfolio of Tunable Products for Optical Networking

SAN JOSE, Calif. iolon, Inc., a privately held optical networking components company, today announced the completion of a $53 million strategic financing round led by Bowman Capital. iolon s second round of funding includes additional investments from first round investors Kleiner Perkins Caufield & Byers (KPCB) and Optical Capital Group, as well as new investments from Boston Millennia Partners; Corning Innovation Ventures, a division of Corning Incorporated; Doll Capital Management (DCM); Goldman Sachs Group, Inc.; Integral Capital Partners; J. & W. Seligman, Inc.; Banc of America Securities LLC; CIBC World Markets; Credit Suisse First Boston; CrossBridge Venture Partners; Kalkhoven, Petit and Levin Ventures (KPL); SSB Page Mill Capital Partners; Techno-Venture and Wit SoundView.

The funding will enable the company to complete development of its initial portfolio of tunable optical devices. The closing of iolon s second round also provides the funds necessary to ramp volume production of the company s first product, a widely tunable, high-powered laser, which iolon began sampling with select customers late last year.

"Our strategy is to invest in market leading companies that are addressing large market opportunities. iolon fits perfectly within this strategy and we are tremendously excited about this investment," said Spencer Punter, general partner, Bowman Capital. "iolon s management team and leading-edge technology will make them a leader in enabling flexible, remotely configurable, optical networks."

Vinod Khosla, general partner of KPCB commented, "Both our initial and subsequent investments in iolon were based on the strength of iolon s technology. iolon s tunable optical devices provide the building blocks for the next major development in optical networking equipment. We believe this will enable service providers to achieve unprecedented levels of operational efficiency and new sources of revenue through rapid, flexible provisioning."

"iolon has raised more than $69 million in the last seven months," said John Clark, president, CEO and chairman of the board of iolon, Inc. "The backing we have received is validation of our business strategy at a time when the landscape for raising capital is challenging. iolon now has sufficient resources to rapidly build a sizeable, profitable company."

iolon s patented platform technology utilizes reliable, high aspect ratio MEMS actuators and advanced servo controls to integrate micro optic components into class leading tunable products. iolon s products offer broad tunability combined with optical performance levels equal to or better than those of current high-performance fixed wavelength devices - performance that is vital to next-generation optical networks.

"iolon s technology allows them to produce a variety of tunable devices from a single platform," said Dan Harris, director, Corning Innovation Ventures. "We are optimistic that the team s depth and experience will enable them to quickly satisfy projected market demands for tunable laser products."

"This is exactly the right time for iolon to bring out its highly manufacturable platform technology," said Karen Liu, market analyst, RHK. "By applying lessons learned from its disk drive industry heritage to innovations specific to optical component assembly automation, iolon is addressing the critical need for breakthroughs that enable fast ramp to volume and rapid cost reduction." Jim Jungjohann, financial analyst, CIBC said, "iolon s platform technology has enabled them to create the first "smart" optical device that continuously monitors and optimizes performance throughout operational life."

About Bowman Capital

Bowman Capital, a premier Silicon Valley investment firm with offices in New York and London, specializes in both public and private technology growth companies. The firm currently manages more than $5 billion in assets. Bowman Capital s investment philosophy is based on intensive, fundamental research on companies in the semiconductor, enterprise software, communications, and networking industries. Bowman Capital s private equity portfolio consists of more than 65 companies, including Arrowpoint Communications (ARPT), Asera, Broadbase Software (BBSW), ONI Systems Corp. (ONIS), Support.com (SPRT), and Sycamore Networks (SCMR). Bowman Capital was founded in 1995 and is based in San Mateo, California. For more information visit www.bowmancapital.com.

About iolon

Headquartered in San Jose, CA, iolon, Inc., is a privately held optical networking components company. The company provides high performance tunable devices for advanced fiber optic networks. iolon s initial product is a high-powered, external cavity, tunable laser source ideal for high bit rate, long haul applications. Future product lines include tunable filters, optical switches, polarization controllers, spectral monitors and universal transponders. iolon s platform technology enables advanced automation for high volume manufacturing based on patented micro-optics, MEMS and advanced servo control technologies. In 2001 iolon received the Investors Choice award at Technologic Partners first annual Optix Conference. For further information, contact iolon at 1870 Lundy Avenue, San Jose, CA 95131; call 408-952-5000; fax 408-952-5007; or visit the website at www.iolon.com.

Contact Kendra Gross Porchivina and Associates Public Relations Phone: 415-893-9138 Fax: 415-893-8185 Email: kendra@papr.com

 


E-mail: kendra@papr.com
Web site: http://www.iolon.com
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