Press release
GigaTera Inc. receives US$ 7 Million in first-round
venture financing
February 21, 2001
Zurich, Switzerland - GigaTera Inc., a company developing components
for next generation optical networks, announced today that it has raised
US$ 7 million in first-round venture financing led by Broadband Capital
of Zug, Switzerland and JK&B Capital of Chicago, IL (USA).
GigaTera Inc. has partnered with Broadband Capital and JK&B because of their excellent track record and commitment to the broadband telecommunications industry. "The timing for this investment is excellent" said Ali Shadman, a partner with JK&B Capital. "With internet and data traffic growing exponentially, optical networking is at the center of a revolutionary change in telecommunications, comparable to that caused by semiconductors in electronics or PCs in computing".
Rolf Helbling, general partner of Broadband Capital, said, "We're excited about our investment in GigaTera because they are solving some of the most difficult problems facing the implementation of next generation optical networks".
"We are delighted to receive the backing of Broadband Capital and JK&B" said Andros Payne, CEO of GigaTera. "They will play a key role as we develop products based on our unique optical networking technology to create new functionality, improve efficiency and reduce transmission cost".
About GigaTera
GigaTera Inc. is developing components for next generation optical networks. The company is based in Zurich, Switzerland. Information about GigaTera Inc. is available on the Internet at www.gigatera.com
About Broadband Capital
Broadband Capital is a venture capital firm based in Zug, Switzerland. The
fund invests in young growth companies in emerging, fixed and mobile broadband
communication technologies. The company's management team combines unique
industry relationships and in-depth technical expertise. Information about
Broadband Capital is available on the Internet at www.bcap.net
About JK&B Capital
JK&B Capital is a US$ 600 million venture capital firm based in Chicago
that invests in software, information technology, and telecommunications
companies. The firm's founding partners brought a very successful track
record to JK&B and more than 40 years of venture capital experience. The
partners have invested in a number of successful companies, many of which
have gone public or have been acquired, including: Exodus Communications,
Broadvision, Brooks Fiber, Level One, Optilink, Phone.com, PowerFone/Nextel,
Proxim, Qualcomm, SCC Communications, Teleos and Worldview. Information
about JK&B Capital is available on the Internet at www.jkbcapital.com
Contact:
GigaTera
Andros Payne
CEO
Lerzenstrasse 16
8953 Dietikon, Switzerland
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| Telephone | +41 (0)1 745 73 00 |
| Fax | +41 (0)1 745 73 01 |
| andros.payne@gigatera.com | |
| Internet | www.gigatera.com |