Nisko: TeraOp to raise $20 mln, ImagINe to raise $4 mln

ImagINe will raise capital at a company value of only $20 million.

Nisko announced that its wholly-owned subsidiary TeraOp is about to complete a $20-25 million capital raising round. The company value for the round has not been finalized.

TeraOp, which belongs to Nisko’s high tech division, has developed a unique, patented technology for high-speed optical switching, suitable for optical routers at high speeds. The company, which was founded several months ago, joins two other optical companies in Nisko’s portfolio.

The first is Optix Networks, in which Nisco has a 33% share. Optix, which recently completed a $9 million capital raising round at a company value of $20-30 million, after money, develops components for optical routers. The other company, Memlink, in which Nisco holds 4.4%, develops optical switching components for cross connect systems with a large number (in the hundreds and thousands) of fiber optic entries and exits. In August, Memlink completed a $22 million capital raising round at a company value of $60 million, after money.

The Nisko Hi-Tech fund is currently completing a private placement to raise $8-15 million at a value of $60 million. The company holds the Neurone 1 venture capital fund (21% of the fund and 31.5% of the management company), while Neurone 2 is in the process of being formed.

Another Nisko investment is in ImagINe (57%), which develops advanced multimedia systems. Yesterday the Comutech venture capital fund, of the Green Software Development group, notified the stock exchange it had invested $1 million in return for 4.2% of the company’s capital, as part of a $4 million capital raising round.

Published by Israel's Business Arena on October 24, 2000