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MINTERA SECURES $19 MILLION FINANCING
JDSU Joins Syndicate as Investor and Strategic Partner
Acton, MA - October 16, 2007 - Mintera® Corporation, the high bit-rate optical transport systems solution leader, today announced it has raised a $19 Million Series C round of venture capital financing co-led by investors Polaris Venture Partners and RRE Ventures. Joining the round as an investor and strategic partner is JDSU, a leading enabler of broadband and optical innovation. Existing investors including Court Square Ventures, Star Ventures and Portview Communications Partners also participated in the round. This financing brings the total amount raised by Mintera to more than $73 Million.
“Internet traffic growth is again accelerating, with the major new drivers being video, mobile, and embedded networking,” said Bob Metcalfe, Ethernet inventor and Mintera director. “Upgrades of core DWDM plumbing are now moving to 40 Gbps in metro and back-bone ultra long haul. These upgrades are led by Mintera which is already preparing for 100 Gbps a few years ahead of service provider network requirements.”
In a related announcement, Mintera and JDSU jointly announced a strategic partnership. The partnership will offer optical network equipment manufacturers (NEMs) products that combine Mintera's Dense Wavelength Division Multiplexing (DWDM) 40 Gigabits per second (Gbps) transmission technology with JDSU's proven 40 Gbps capable optical communications products and test and measurement solutions. (See related announcement “JDSU and Mintera Form Partnership to Provide First Complete 40G Solution to Telecom Industry”).
Mintera develops and markets high bit-rate fiber-optic transport sub-systems, for metro-core, regional, long-haul and ultra long-haul optical networks. The company will use the financing to complete the commercial launch of its new, 300-pin DWDM 40Gbps Adaptive-DPSK Module, to release new features on its MI 40000XS platform and to develop new solutions at higher bit-rates (100 Gbps) based on its proprietary technology.
“We are seeing increased demand now for cost-effective 40 Gbps solutions and are pleased with our investors’ confidence in Mintera’s ability to deliver,” said Mintera CEO Terry Unter. “Mintera has met significant milestones over the past year – we have significant new customer wins, we have shipped commercially our new, patent-pending modulation format and have continued shipments to customers in North America, EMEA and Asia Pacific. Our new funding, coupled with our strategic partnership with JDSU, will help us continue to meet our current and future customer requirements with the best technological solutions, quality and reliability.”
About Mintera
Mintera is a high bit-rate optical transport systems solution leader enabling migration to 40 Gbps and beyond in metro-core, regional, long-haul, and ultra long-haul networks. Mintera’s flexible multi-service product-set enables service providers to upgrade their existing infrastructure in an evolutionary and seamless fashion. Mintera continues to gain customer traction since demonstrating the world’s fastest ultra long-haul optical transport connection in June 2004. The company is working on higher bit-rate solutions with multiple research and development labs at carriers, systems suppliers, component manufacturers, research institutes and universities to further drive down optical transmission costs. For more information, visit www.mintera.com.
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Contact:
Keira Shein
WilkinsonShein Communications
410/363-9494
keira@wilkinsonshein.com
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