DERRY, NH — Cedar Point Communications, a New Hampshire company developing an innovative PacketCableT based telephony technology for cable system operators, announced today the completion of an initial round of $19 million in private equity financing. Charles River Ventures and Battery Ventures have committed capital to the development and commercialization of Cedar Point’s Cable Media Switching System, an entirely new category of voice switching equipment tailored exclusively to the needs of the broadband cable operator. Cedar Point previously had been funded by its founders and other investors, led by Ascent Venture Partners.
SANTA CLARA, CA — Transparent Networks, Inc., developer of intelligent photonic switching systems, today announced the completion of $20 million in second round venture funding. This round brings the total funds raised by the company to $30.2 million since its inception in June 2000. The lead investor in this round was U.S. Venture Partners (USVP). Reaffirming its commitment to Transparent Networks, the latest round included pro-rata funding from previous round investor Benchmark Capital.
DENVER — Secretary of Technology Marc Holtzman announced today a newly formed partnership between the Public Employees’ Retirement Association of Colorado (Colorado PERA) and ITU Ventures, LLC (ITU). The partnership was formed to invest in technology emerging from Colorado’s research institutions.
RICHARDSON, TEXAS — Chiaro Networks today announced the completion of its fourth funding round of $80 million. To date, the company has raised a total of $210 million. New backers, Delta Ventures, LandHo Ventures and Poalim Capital Markets, joined Chiaro’s current high-profile venture capitalists, including CenterPoint Ventures, InterWest Partners, Rho Ventures, Sevin Rosen Funds and STAR Ventures.
BOSTON — Onaro Inc., a startup software company specializing in enterprise storage networking management solutions announced today that it received a seed financing round from Cedar Fund, a private equity investment management firm. The funds will be used to fuel the company’s product development efforts and further strengthen the company’s relationships with its prospective customers.
MCLEAN, VA — RateIntegration Inc., a leading developer of rating software for telecommunications service providers, announced the completion of a $9 million financing round led by new investor Dolphin Communications Partners, a venture capital firm located in New York City. Also participating in the round were existing investors in RateIntegration, LiveWire Ventures, JT Venture Partners and Windspeed Ventures.
SAN DIEGO — Magis Networks, Inc., a leader in 802.11a wireless chipsets, today announced Hitachi, Ltd. is the latest strategic investor to join Magis’ current round of funding. Magis develops chipsets that enable wireless communications of TCP/IP data, high-quality video, and audio throughout the home and office under the Air5(TM) brand name. Under the terms of the investment, the two companies are developing product roadmaps that will optimize market acceptance of Magis’ Air5(TM)-based products.
PALO ALTO, CA — Amnis Systems Inc. (OTCBB:AMNM) (Frankfurt:ANI), a leading global provider of networked streaming video systems, today announced it has completed new financing of $1.8M from private equity investors. The investment was made by Stonestreet Limited Partnership and Alpha Capital Aktiengesellschaft among others. All funds were received by the company at the closing. This new financing combined with the financing commitment for $2.4M completed in early January 2002 brings the total new financing in 2002 for Amnis to $4.2M with $2.3M already received.
PISCATAWAY, NJ — Innovance Networks, a privately-held optical networking company, has closed its Series B financing, raising over $55 million in venture capital. JDS Uniphase (NASDAQ:JDSU) and Corning (NYSE:GLW) also participated in the financing as key industry investors. The new funds will be used to support the commercial launch of Innovance Networks? industry-leading agile, photonic networking system, which follows the successful completion of testing and trials with several major North American service providers.
In addition to Corning and JDS Uniphase, seven major investment firms participated in this round of funding: Advanced Technology Ventures (ATV), Morgenthaler, Thomas Weisel Capital Partners, Azure Capital, Banc of America Securities LLC, KPL Ventures and Archery Capital. The largest investor in this round was ATV. Jack Harrington, general partner at ATV, will be joining Innovance Networks? Board of Directors.
WELLESLEY, MA ? GeoTrust Inc., an emerging leader in identity and security solutions for e-business, today announced it has secured $10 million funding led by Prism Venture Partners. Prism has joined the prestigious list of investors that include St. Paul Venture Capital, Castile Ventures, and CB Capital. The investment will support GeoTrust?s sales, marketing and acquisition initiatives.
NEW HAVEN, CT — Agilix Corp. announced the final closing of its Series B Preferred Stock private financing at an aggregate $28 million. SAIC Venture Capital Corporation and Temasek Capital joined a Series B investment roster that includes Burrill & Company, Hambrecht & Quist Capital Management, Stephens Group, Inc., Wheatley MedTech Partners, BioVeda and Series A Preferred Stock investor ATP Capital. Stephens, Inc. acted as the Company’s exclusive placement agent.
BOSTON — Hyperwave recently secured $18 million (Euro 20 million) of new equity. In addition to existing investors such as DVC, 3i, Atlas Venture and HiTECH, e-millennium is now supporting the future growth of Hyperwave’s collaborative knowledge management business. e-millennium not only brings deep knowledge of the US market to the Hyperwave software house, but also a distinguished network of financial and technology-oriented investors, such as Deutsche Bank, SAP, and Accenture.
COLUMBIA, MD — The Chesapeake Emerging Opportunities Club, LLC (the “Club”) announced today that it has invested in Columbia, Md.-based Cylex Inc. The Club invested $170,000 alongside an investor group that included The Dinner Club, Calvert Social Investment Fund, Early Stage Enterprises, Women’s Growth Capital, Maryland Department of Business and Economic Development, MDBio and others in this $2.5M follow-on round of investment.
CLEVELAND — Flashline, the market-leading provider of enterprise software reuse solutions, today announced it has closed a $6 million round of venture financing from Adams Capital Management, a national venture capital firm that invests in information technology and telecommunications companies. The investment allows Flashline to further expand its position as a premier provider of enterprise software solutions that enable companies to significantly reduce IT costs and increase developer productivity. Flashline will use the funding to expand sales and marketing initiatives, increase research and development for new and existing products, and grow its market presence.
BOSTON — Ember Corp., the wireless embedded networking company for industrial and commercial applications, today announced that it has secured an additional $5 million in series A funding. Polaris Venture Partners led the financing round, with new participation from GrandBanks Capital as well as continued support by previous investors DFJ New England and Stata Ventures. Charley Lax, founder and managing general partner of GrandBanks has also joined the Ember Board of Directors.
NEWPORT BEACH, CA & WASHINGTON DC — Conexant Systems, Inc. (Nasdaq:CNXT), a worldwide leader in semiconductorsystem solutions for communications applications, and The Carlyle Group, aleading global private equity firm, today announced a definitive agreement toform a new specialty foundry company. The new company will manufacturesemiconductor wafers using industry-leading specialty process technologiessuch as silicon germanium bipolar CMOS (SiGe BiCMOS) for customers targetinghigh-performance applications such as wireless communications and opticalnetworking.
Carlyle will hold 55 percent of the equity of the new company and Conexantwill own 45 percent. The Carlyle Group will appoint five members of the newcompany’s board of directors, two will be appointed by Conexant and twodirectors — the chairman and the chief executive officer — will be selectedjointly. Conexant’s appointments will be Dwight W. Decker, Conexant’s chairmanand chief executive officer, and Donald R. Beall, chairman of the board ofRockwell Collins and a Conexant director since 1998.
Click here for Friday’s Wire