Soliton Transmission Start-Up Algety Raises $31 Million in Round Two Funding

Algety Telecom has closed its second round of venture capital funding at US$31 million. New investors Goldman Sachs and Dassault Developpement join round two funding, along with reinvestment by initial investors Banexi Venture Partners, Crescendo Ventures, Innovacom, and Newbury Ventures. Newbury and Crescendo co-lead this second round.

The new infusion of capital will fund the company's development of wave division multiplexing (WDM) systems that use a new generation of solitons (versus currently used photons) for efficient and ultra-high speed data transmission over long-haul optical networks. In addition, the company will increase its sales and customer support teams, form strategic technology and business partnerships, and continue research and development efforts.

Founded by veterans of France Telecom in 1999, Algety Telecom is a privately held manufacturer of ultra high-speed fiber optic transmission equipment.

Edited by Kristin Keiser