Scot Faris, chief executive officer of Waveguide Solutions, a developer and manufacturer of lightwave circuits and other telecommunications equipment, says the company currently is scanning the horizon in pursuit of $2 million.

“We have a proven technology that provides our customers with a low-cost optical circuit solution,” Faris says. “This next round should keep us funded into next year.”

Faris attended the NCEITA “Banking on the Future’ technology conference where he made Waveguide’s plans known.

Last January, Waveguide received a $2.5 million cash infusion from Southeast Interactive Technology Funds and Academy Venture Funds. It is one of the few investments made in the telecom sector for 2002.

Officials from both firms declined to discuss the possibility of future investments into Waveguide.

Waveguide is a spin-off from the University of North Carolina at Charlotte. The company’s technology platform is a result of research conducted by Dr. Faramarz Farahi, a founder and senior vice president of technology at Waveguide.