Private equity firm Crescendo Ventures has led a $13m (E13.9m) first round of financing for CoreOptics, a supplier of optical networking solutions. The financing is one of the largest first rounds ever received by a start-up in Germany. Munich-based TVM and Fujitsu Quantum Devices of Japan also participated.
The company is a privately held US-German initiative developing and manufacturing optical networking solutions for next generation backbone transmission systems. CoreOptics has a research and development operation with its subsidiary in Southern Germany. It focuses on ultra high-speed optical networking solutions and will provide system manufacturers differentiating solutions for their next generation systems.
Georg Röll, CoreOptics president and chief executive, said: “The CoreOptics team is thrilled to have gathered outstanding financial sponsoring and additional strategic support through the valuable network of our investors. We are excited about providing our customers solutions that will help them change the economics of the network.”