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Eblana Photonics raises $4.5m in Series B funding

11 February 2003 - Eblana Photonics, the Irish based provider of advanced laser products for broadband access communications, has announced that the company has secured a $4.5 million investment in a 'Series B' fundraising. The latest investment has been led by TLCom Capital Partners, the London-based pan-European venture capital firm specialising in the communications and information technologies sector. This round brings the total funds raised by Eblana Photonics, founded in December 2000, 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, "This major investment is a milestone in Eblana's evolution in supplying cost-effective high quality laser products for use in cost sensitive Access applications. Eblana's technology uniquely allows outsourced production of high performance laser components to contract manufacturers thereby meeting that market's growing demand for components delivered in high volume, at affordable prices and at the high quality levels demanded by the industry. 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." The TLCom management and advisory team represents over 60 years combined experience in finance and strategy for the communications industry in Europe and Silicon Valley. The company operates a fund worth Euro185m and has a strategic co-investment agreement with the private equity arm of Morgan Stanley.

ACT Venture Capital is Ireland's oldest and leading independent venture capital company. It recently announced the establishment of a Euro170m technology focussed venture capital fund, the largest technology focused fund in Europe last year.

-ENDS-

For further information, please contact:
Frans Van Cauwelaert
WHPR
Tel: +353 1 669 0030
Email: frans.vancauwelaert@ogilvy.com
Web: www.eblanaphotonics.com

last updated Wednesday, 21, October, 2009   |   copyright © 2005 Eblana Photonics Ltd.