April 5, 2004 Santa Clara,CA--Fiberxon Inc., a provider of optical access modules for fiber optical communication networks, today announced the closing of its $10 million second round of funding. With JAFCO Investments as the lead, other financing participants included Apax Partners and several strategic investors from within the optical industry.
"JAFCO Investments only choose the most compelling fiber optical communication investments that help enable broadband optical networks effectively and economically," Vincent Chan, director and executive vice president of JAFCO Asia commented. "Outstanding financial results and rapid revenue growth proves Fiberxon is on the right track with continuing new customer wins and technology innovations. We are excited to be part of this rapidly growing company."
Since its founding in late-2000, Fiberxon has rocketed to success in penetrating the global optical module market, even during the downturn period after the "optical communications bubble" burst in 2001. In just three years, Fiberxon invented its innovative manufacturing technology and developed its product portfolios with more than 150 products for Gigabit Ethernet, Fibre Channel, FTTX, SDH/SONET, MSTP and CATV applications. Fiberxon also boasts continued profitability for 6 consecutive quarters since Q4 2002. Recently, Fiberxon achieved a series of new design wins and became a qualified supplier to several leading telecom/datacom system providers in North America and the Asia Pacific region.
"I am very pleased to see the positive response from the investment community to our Series B financing", said Li Hsu, chief executive and president of Fiberxon. "The over-subscription of our Series B Funding is not only a great sign of their endorsement to our technology, products, rapid revenue growth and profitability, but also a clear indication of their confidence in the Fiberxon's management team. The new capital infusion will greatly accelerate our new product development and revenue growth. I am very confident we are going to continue to take more market share from our competition."
Fiberxon is focused on the design, manufacture, and marketing of high performance, cost-effective opto-electrical interface modules for optical communication systems. Founded in 2000, Fiberxon has its headquarters in Santa Clara, CA, and subsidiaries and offices in Dallas, Beijing, Shanghai, Shenzhen, Chengdu, and Hong Kong. Supported by leading communication firms and venture capital, Fiberxon meets the demands of its customers worldwide with products and services derived from its technology innovations in the design and manufacturing of active optical modules, and its complete quality and reliability assurance systems.