Agility receives more funding and partners with Japanese distributor
In a separate release, Agility also announced a strategic partnership with Nissho Electronics Corp. under which Nissho will serve as Agility s distribution partner in Japan. "Partnering with a leader such as Agility mirrors Nissho s mission to provide the domestic Japanese market with advanced products incorporating new technologies, as well as to offer new approaches. The market for optical networking components that address the overwhelming deployment of bandwidth on demand is increasing and will continue to grow, said Takashi Fukuda, director and board member of Nissho Electronics Corp.
Initially announced in September 2001, Agility s first Series C funding closing, led by General Motors Investment Corp., totaled $83 million. Agility s Series B round totaled $70 million and was led by Worldview Technology Partners. The company s Series A round totaled $15 million from leading venture capitalists US Venture Partners and Morgenthaler Ventures.
"We now have additional financing options with lease lines, and we are well positioned to ride out the industry downturn while continuing to build our company and ramp our widely tunable lasers into high production, said Ron Nelson, president and CEO of Agility.
Agility is the first and currently the only tunable laser company to ship production quantities of widely tunable lasers to multiple customers and samples to more than 40 customers. Optical equipment manufacturers utilize Agility s solutions to help service providers deliver high bandwidth and maximize their existing network resources at the lowest cost.
Trainer Public Relations
Lisa Blaisdell
Tel. +1 949 347-1040
E-mail: lisa@trainerpr.com
Web site: http://www.agility.com
