San Jose, CA, June 24, 2002 -- PowerNetix, Inc., a provider of high-power laser pump modules, has secured its second round of venture financing. PowerNetix in December 2000 secured $6.5 million in its initial round of venture funding. The construction of PowerNetix's 9,500-square-foot manufacturing facility in San Jose was the primary use of that capital. Second-round funding will be used to accelerate manufacturing of PowerNetix's current line of high-power 980nm pump modules as well as to accelerate the company's product development schedule.
Second-round financing for PowerNetix was provided by the same group of venture capital firms that were involved in the first round. Azure Capital Partners, San Francisco, Calif., and Siemens Venture Capital, set the value for the round. CairnCross Ventures and Star Ventures also contributed to second-round funding.
"Our second round of venture capital funding will allow PowerNetix to continue to progress at the same aggressive pace we have maintained since founding the company in October 2000. While this is a milestone that clearly deserves celebration, PowerNetix must continue to excel with our investors, customers and suppliers as a great company to do business with and with our employees as a great company to work for," said Jay Titus, chairman, president and CEO, PowerNetix, Inc.
"The fact that four premier venture capital firms provided second-round funding in this challenging economy is an endorsement of the company's vision as well as what we have accomplished to date. We're proud of the products we have brought to market in a short time, including coolerless pump modules that deliver the highest power in the industry. We're also proud of our unique Uniline(tm) packaging technology that is crucial to streamlining our costs and maximizing product quality and reliability for customers," said Lalit Goel, Vice President of Marketing, PowerNetix, Inc.
In March at the Optical Fiber Communications Conference & Exhibit in Anaheim, Calif., PowerNetix announced its newest product line, the members of which deliver the most power available -- 980nm -- from any pump module without a thermoelectric cooler (TEC).
The product line consists of two versions. PowerNetix has designated the 200-milliwatt (mW) as the 3300 Series ( PTNX-3300) and the 400-mW as the 6600 Series (PTNX-6600). The "coolerless" modules are designed for use in fiber amplifiers in high-speed optical telecommunications networks.
Both come in a low-profile, 14-pin butterfly package with a fiber bragg grating and provide industry leading product performance - kink-free power operation to 200mW for the 3300 Series and 400mW for the 6600 Series. In addition, both provide side-mode suppression of less than 20dB, total module power consumption of less than 0.7W and an operating temperature range from 0-70 degrees Celsius.
Both the PTNX-3300 and PTNX 6600 pump modules are on track to receive Telcordia qualification as early as October 2002.
In October 2001, PowerNetix introduced its inaugural product line - single-mode 980nm pump modules. PowerNetix offers the 9000 Series (240-mW) and 9100 Series (350-mW). Designed for use in fiber amplifiers and fiber lasers in high-speed optical telcommunications networks, the single-mode modules are on track to receive Telcordia qualification as early as August 2002.
This introduction is significant since it took PowerNetix less than one year from the time it received first-round venture funding (December 2000) to when its first products were available in sample quantities.
All PowerNetix high-power laser pump modules are produced using the novel and proprietary Uniline (patent pending) packaging technology. An exclusive innovation developed by PowerNetix, Uniline simplifies the crucial steps of fiber alignment and locking and can be implemented using low-cost, off-the-shelf equipment. Moreover, the Uniline packaging platform allows a path for automation with scalable volume, which dramatically increases product consistency and throughput.
For more information, visit www.powernetix.com.
Laser Focus World