LuxNet Raises $18M in Latest Round of Funding
Source: LuxNet Corporation
Fremont, CA. LuxNet Corporation recently announced that it has received $18 million in its latest round of venture capital funding. Investors include VenGlobal Capital, Acer Technology Ventures, Citigroup, Acorn Venture Partners, Gain Investment Corporation, and Trident Microsystems.
The funding follows the successful establishment of LuxNet s OMVPE growth facility in Fremont, California; and its 15,000 square-foot manufacturing subsidiary in Lung-Tan, Taiwan. LuxNet intends to use the proceeds to ramp up global volume manufacturing capability, testing, and development of its cutting-edge VCSEL, PIN, FP, and DFB devices for SAN, LAN and MAN environments.
"Our samples have consistently shown themselves to be some of the best performing in the optical networking industry. LuxNet has an extraordinary team of technical experts with the innovation and seasoned experience to advance our technology beyond that of our competition, said Dr. Hsing Kung, Chairman and CEO of LuxNet. "Through proprietary device design and fabrication processes that are unparalleled in the industry, LuxNet has the ability to provide both superior product performance and in-house, high-volume, low-cost manufacturing. Our company is thus uniquely prepared to meet current and future market demand with ease and dependability."
"With proprietary epitaxial technology and advanced device know-how, LuxNet can produce VCSELs at a much higher yield and be very competitive in the fast growing data communication market," concurred James Lung, general partner of VenGlobal Capital.
"Based on the excellence of its IP in technical development and the depth of its production experience, we believe that LuxNet will be a significant player in providing key photonic componets for optical communication applications," said Ronald Chwang, Chairman and President, Acer Technology Ventures, America.
"We believe LuxNet is one of the best semiconductor laser companies that specializes in designing, manufacturing, and developing various semiconductor-based laser chips for the fiber optics industry. LuxNet offers total solutions to IDMs and component/system design companies, addressing different segments within the growth-bound food chain," said Albert Wang, Managing Director of Citigroup Venture Capital Emerging Markets. "With an integrated backend operation, LuxNet is positioned to offer price competitive and better time-to-market products to the marketplace."
About LuxNet LuxNet Corporation is a privately held company positioned to be a leading manufacturer of active components for the fiber optic communications industry, as well as a world leader in OMVPE and semiconductor opto-electronic device technology. LuxNet products include VCSEL chips and arrays, photodiodes, and FP and DFB lasers for integration into gigabit-speed transceiver and optical interconnect solutions. The company was founded in 1999 and is headquartered in Fremont, CA.
Contact: Tina Wu LuxNet Corporation Tel. 510 445 3068 x244 Fax. 510 445 3060 tina_wu@luxnetcorp.com www.luxnetcorp.com
Tina WuLuxNet Corporation
Tel. 510 445 3068 x244
Fax. 510 445 3060
tina_wu@luxnetcorp.com
www.luxnetcorp.com
E-mail: tina_wu@luxnetcorp.com
Web site: http://www.luxnetcorp.com
