April 27, 2005 Wilmington, MA -- Polychromix, a developer of modular optical subsystem platforms for optical networking and molecular spectroscopy, has secured $3 million in additional venture funding. The new investor, Lighthouse Capital Partners, joins Siemens Venture Capital, Seed Capital Partners (Softbank), Vanguard Ventures, and others in bringing total investment in the company to approximately $18 million.
The company says it will use the additional funding to expand its research and development activities surrounding optical MEMS (MOEMS) applications, citing recent market development in areas including wavelength selective switching (WSS) platforms for optical telecommunications, and near-infrared spectroscopy products for scientific instrumentation.
"This additional funding from Lighthouse Capital Partners signals an understanding of the market, and a commitment to the further growth of Polychromix as a full-scale manufacturing company capable of meeting our customer's demands and expectations," asserts Brian Mitchell, president and CEO of Polychromix.
The company's optical channel-management products, based on its Dynamic Channel Orchestrator (P-DCO) platform, have, over the past two years, secured multiple purchase orders and design wins from telecommunication OEMs, according to the company. The company says its P-DCO products, based on patented diffractive MEMS technology, form a programmable optical subsystem platform that can attenuate, equalize, or block wavelengths in telecommunications networks, providing remote provisioning and control capabilities.