Israeli optical communications start-up BroadLight Inc. has raised $12 million in its fifth financing round. Benchmark Capital led the round.
BroadLight has raised $50 million since it was founded in 2000. Existing shareholders include Motorola Ventures, Azure Capital Partners, Delta Ventures, Israel Seed Partners, Star Ventures, Cipio Partners, Broadcom Corporation (Nasdaq:BRCM), and Tellabs Inc. (Nasdaq:TLAB).
BroadLight’s CEO is Andrew Vought. The company develops semiconductor and software for fiber-to-the-premise (FTTP) and markets end-to-end component solutions for ITU-T compliant passive optical networks (PON) for broadband (BPON) and gigabit PON (GPON) networks.
Earlier, BroadLight obtained a $5 million loan from Plenus Venture Lending Fund. The company hopes to break even in 2008. The company has 80 employees, including 70 at its R&D center in Israel, and it has offices in Taiwan and China. IVC Online reports that the company hopes to have $20 million in sales in 2007.
Published by Globes [online], Israel business news - www.globes.co.il - on September 11, 2007
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