CyOptics, Inc., a leading supplier of high-speed optical chips and components for broadband communication solutions, today announced that it closed its $27M Series F funding round with a $3 million investment from Birchmere Ventures. Birchmere joins prior investors JVP, Sprout Group, TowerBrook Capital Partners, and Eurofund, which collectively invested $16.5 million in the April first closing. The round also included $7.5 million in debt financing from Comerica Bank. This round financed the acquisition and integration of TriQuint Semiconductor's Optoelectronics Division.
Birchmere partner and new CyOptics board member Sean Sebastian said, “We looked at dozens of optical companies with exciting technology at the height of the telecom bubble, but shied away from the sector because we couldn’t reliably discern the likely winners. Now with the nascent sector recovery under way and manufacturing consolidation, we’re confident CyOptics will continue to widen its established lead in the market.”
“The integration of the optical business acquired from TriQuint has gone extremely well,” said Ed Coringrato, President and CEO of CyOptics, Inc. “Our revenue is continuing to grow quarter over quarter as are our product offers and customer base. We are very pleased to have Birchmere Ventures join our investor group and look forward to working with them in continuing to grow and diversify our business.”
