Taking electrical signals and converting them into light may not sound sexy. But when this technology reduces the need for a generator and makes your network more cost efficient, you?ll take notice.
Kodeos Communications, a provider of transponders for optical networks, recently secured a Series A deal worth $12 million from Jerusalem Venture Partners and Highland Capital Partners, who co-led the deal.
Glen Schwaber, general partner with Jerusalem Venture Partners, and Jon Auerbach, of Highland Capital Partners, both took board seats with Kodeos.
Gadi Lenz, Kodeos co-founder and chief operating officer, said the company?s technology allows for transmissions to be superior to its competitors in terms of performance and capacity.
As Kodeos is in its early development stages, this first round of financing is expected to get the company to a point where it can start mass-producing its technology. Production samples are expected sometime in the first half of next year.
South Plainfield, N.J.-based Kodeos is also planning to draw another bucket from the private equity well within 12 to 18 months.