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Tropic Networks Inc.,a developer of optical packet networking systems, said on Wednesday it secured $10 million from a venture capital consortium, another sign that metro-area optical communications networks continue to be considered a hot area.

In the first half of the year, many venture capitalists moved to fund technology startups in the hopes of finding lucrative breakthroughs for bridging the proverbial "last mile" -- linking metro-area optical networks to long-haul networks.

The moves come even in the face of inventory gluts and overbuild networks that have made 2001 one of the most punishing years for investors in such publicly traded suppliers as JDS Uniphase Corp.

Andover, Massachusetts-based Tropic makes components to eliminate metro-area constraints for delivering high bandwidth Internet protocol and Ethernet-based services.

With its latest funding -- provided by Silicon Valley Bank, GATX/MM Venture Finance Partnership, and Transamerica Commercial Finance Corp. -- year-old Tropic has raised $70 million. The latest funding will be used for product development and customer acquisition, Tropic said in a statement.

Posted in: Communications




 
     
 
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