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
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.