Picolight plans production ramp after $13m round
Picolight says that it will bring 1310 nm vertical cavity surface-emitting laser (VCSEL) products into volume production, following its latest funding round.
The Boulder, CO, company, which makes both short- and long-wavelength VCSELs and transceivers based on the components, raised $13 million and is looking to close another deal worth $4 million-$7 million in the current quarter.
Coral Capital Management led the most recent round, and Coral's managing director Todd Ortberg now takes a seat on Picolight's board of directors.
"This funding round validates the progress we made through the second half of 2004 and into the first quarter of 2005, and will help us commence volume shipments of 1310 nm VCSEL-based products," said Picolight CEO Steve Hane.
Picolight says that its revenue has more than doubled in the past year, fueled by demand for applications such as 10 Gigabit Ethernet and parallel optics.
Describing "steadily improving market conditions", Hane added that Picolight is aiming to become profitable by the end of this year.
Picolight had already raised $90 million in capital prior to the most recent round, and the company built its VCSEL fabrication facility in 1998.
