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Financing Solutions that Fit
OTTAWA, Canada -- Innovance Networks, a privately-held company focusing on developing a next-generation, photonic backbone optical system, has just closed its latest round of financing by securing a US$4.0 million investment from the GATX/MM Venture Finance Partnership.

"We are extremely pleased to have the GATX/MM Venture Finance Partnership, a leading technology investor, fund us and support our vision", said Wayne Edmunds, CFO of Innovance Networks. "Innovance Networks is developing an optical networking portfolio that will fundamentally reduce the complexities currently involved in long-haul, photonic transport.”

Innovance Networks has assembled a world-class team of optical networking talent, including some of the leaders in the industry. The company will deliver a portfolio of agile, intelligent photonic networking solutions that will enable service providers to build profitable, next-generation core optical networks. Existing investors include Morgenthaler, Thomas Weisel Partners, Azure Capital and KPL Ventures (the investment arm of Kevin Kalkhoven, founder and former CEO of JDS Uniphase).

"The quality of Innovance's team and the value proposition of their solution, uniquely positions the company to become a leader in long-haul photonic transport", said Minhas Mohamed, Managing Partner, MM Venture Partners. "We have a great deal of confidence in Innovance Networks and their vision for a next-generation solution that provides agility and flexibility".

About Innovance Networks
Innovance Networks will deliver a portfolio of agile, intelligent photonic networking solutions that enable service providers to build profitable core optical networks. The Innovance Networks solution offers ‘Just-in-Time’ capacity to accelerate the deployment of services through the core, simplifies the network, and reduces the cost of operations, while addressing the network scalability challenges beyond raw capacity. For more information visit them online at

About GATX/MM Venture Finance Partnership
The GATX/MM Venture Finance Partnership is a privately held, venture-debt fund that focuses exclusively on private technology companies in Canada. The Partnership focuses specifically on Canadian information technology and biotechnology companies. The partnership comprises MM Venture Partners, founded in 1998 in Toronto and GATX Capital. San Francisco based GATX Capital, is a unit of GATX Corporation, a specialized finance and leasing company active worldwide. For further information please visit and

For Further Information Contact:

Innovance Networks
Loreli Lees, Director, Marketing Communications
613-798-9293 (x231)

MM Venture Partners
Minhas Mohamed, Partner
Posted in: Communications

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