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BizPlus, February 11, 2003

Eblana Photonics Raises $4.5m

11/02/03: Eblana Photonics has secured a $4.5 million investment in a 'Series B' fundraising led by TLCom Capital Partners

Eblana, which provides advanced laser products for broadband access communications, was founded in December 2000 and the latest round bring total funds raised to $7.75 million.

Existing investors, ACT Venture Capital and Enterprise Ireland, also participated in the financing.

Eblana Photonics was set up to commercialise technology developed in a photonics research programme involving Trinity College Dublin, the Irish National Microelectronics Research Centre (NMRC) and Enterprise Ireland.

Lasers are light emitting components used in optical communication systems which deliver data transmission at higher bandwidth and over longer distances than in the case of traditional copper based systems.

Deployment of optics in the Access loop is an essential element in the provision of broadband communications to both enterprises and individual consumers. According to James O'Gorman, CEO Eblana Photonics: "Our technologies allow a laser company to exploit for the first time, established microelectronics manufacturing models to better deliver value and superior products to its customers. "

For new shareholder TLCom Capital Partners, the relationship with Eblana Photonics marks its first investment in Ireland.

Colin Watts, General Partner at TLCom Capital Partners said: "TLCom sees the technology and products being developed by Eblana as key enablers to the emerging optical broadband markets, which will drive the next generation of residential telecommunication services."

TLCom operates a fund worth €185m and has a strategic co-investment agreement with the private equity arm of Morgan Stanley.

ACT Venture Capital recently announced the establishment of a €170m technology focussed venture capital fund, the largest technology focused fund in Europe last year.

last updated Friday, 27, August, 2010   |   copyright © 2005 Eblana Photonics Ltd.