AllOptic raises $24M for high-bandwidth equipment
AllOptic is a maker of optical cables and other equipment for high-speed networking, primarily serving telecom and cable companies.
The Livermore, Calif. firm got its start in 1999, but barely made it through the dotcom bust. A fresh $15 million infusion in 2005 resuscitated the company.
A second tranche of $15 million followed in 2006, totalling $30 million for the first round. Arcapita Ventures and Ritchie Capital Management, who led the funding, also provided the recent $24 million second round.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.