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July 12, 2005 Santa Clara, CA -- Redfern Integrated Optics (RIO), a developer and manufacturer of high-performance optical transmitters for telecommunications and data transmission applications, today announced that it has secured $6.2 million in financing. The financing was provided by Advent International, Tallwood Venture Capital, TMT Ventures, and Redfern Photonics Pty Ltd.
"In addition to the customer validation that RIO has secured to date, and the development of the 10G market, this financing puts us in an excellent position to capitalize on our breakthrough platform technology," comments Radu Barsan, president and CEO of RIO. "Such financial support represents a significant endorsement of RIO's value proposition, and will enable us to continue to meet the growing needs of our customers for high-performance, low-cost 40/80-km and DWDM XFP-compatible TOSAs."
The company says the funding will allow it to complete the development and qualification of its first line of products, while broadening its product portfolio and ramping up manufacturing.
"RIO's technology addresses a broad market, utilizing standards such as XFP, X2, and XENPAK, [and] we recognize the company's potential to become a crucial player as it continues to grow and gain market traction," remarks Leigh Michl, partner at Advent International.
"As a pioneer in planar photonic integration technologies, RIO is well positioned to become a market leader in high-performance, low-cost, miniature optical transmission modules," adds Dado Banatao, managing partner at Tallwood Venture Capital.
In connection with the financing, Michl, Banatao, and Paul van Tol joined RIO's board to represent Advent, Tallwood, and TMT Ventures, respectively.
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