FlexLight Networks Receives $1.5M from Israeli Government

July 30, 2002
Atlanta, GA, July 30, 2002 - FlexLight Networks, an optical access pioneer delivering a Gigabit Passive Optical Networking (GPON) solution for the last mile, has received a $1.5M investment on behalf of the Office of the Chief Scientist, the research and development arm of the Israeli Ministry of Trade.

Atlanta, GA, July 30, 2002 - FlexLight Networks, an optical access pioneer delivering a Gigabit Passive Optical Networking (GPON) solution for the last mile, has received a $1.5M investment on behalf of the Office of the Chief Scientist, the research and development arm of the Israeli Ministry of Trade. This investment, recognizing FlexLight Network's technological innovation and market direction, is intended to support further development of its optical access technology.

Today's service providers are striving to find economical and efficient solutions to provision high-quality voice and data services to businesses and homes located miles away from the metro rings in suburban locations. FlexLight Networks recently unveiled its GPON optical access product line called Optimate, a suite of products specifically tailored to address these services. Based in Atlanta with research and development offices in Israel, the optical company's leading solution conquers last-mile bandwidth bottlenecks and optimizes service flexibility - supporting both voice and data in their native formats.

The Ministry of Industry & Trade aids in the strengthening and expansion of the technological base of the Israeli industry through a wide range of support programs that are implemented by the Office of the Chief Scientist of the Ministry including this fund aimed at supporting promising start-ups in Israel. The Office of Chief Scientist's decision to invest in FlexLight Networks was the result of a comprehensive study of FlexLight Network's technology and marketing concepts conducted by expert personnel and veterans of the Israeli High-tech industry.

FlexLight Networks' state of the art platform serves as the backbone of the Access Layer. The solution enables transport of various existing, as well as emerging, protocols over complex topologies - while at the same time providing one of the most cost-effective solutions to the service provider. This new Access environment employs a high-speed optical transport layer aimed at supporting any existing or emerging service in its native format, which is achieved through the use of optical transport technologies such as WDM (Wavelength Division Multiplexers) and OADM (Optical Add/Drop Multiplexers). At the same time, the solution is able to maintain the applications' Quality Of Service (QoS) requirements. The solution's ability to economically cater to the operators' exact requirements by providing dynamic and reliable convergence of voice, video and data over a transparent Access layer make FlexLight Networks' platform the ideal solution.

Founded in September 2000 by a dynamic team of high-powered and experienced optical network specialists and telecommunications executives, FlexLight Networks' suite of Gigabit PON optical access products leverages leading-edge technology to deliver a solution that conquers last-mile bandwidth bottlenecks and optimizes service flexibility.

FlexLight Networks' seed funding of $9 million comes from America's Coral Ventures, a private venture capital firm that manages more than $300 million of capital in five funds, and from Israel's Concord Venture Capital Fund. The company has offices in Atlanta, Ga. and Kfar Saba, Israel.

For more information, visit www.flexlight-networks.com.

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