FlexLight Networks, a developer of network gear for high-speed optical networks, has landed $3 million in additional financing.
Gary Lee, chief executive officer of FlexLight, said existing investors Coral Ventures and Concord Ventures invested the money in the fourth quarter. Lee told web sight “Light Reading” that the company is in the process of raising a B round of between $10 million and $12 million. Coral and Concord already have contributed, he said.
“Our investors did come up with more money,” Lee told Light Reading, “and we’re in the process of raising a B round.”
FlexLight said it recently concluded lab trials with France Telecom for the gear, which operates at speeds higher than one gigabit. Lee told Light Reading several other carriers also would be testing the equipment in the near future.
FlexLight gear uses splitters to share optical bandwidth over fiber. The company currently has 30 employees, most of whom are engineers who are based in Israel.
Investors have already put in an $8.5 million A round. Another $1.5 million came from the Israeli government.