Quantum Photonics raised $27.6 million in its second round of funding. New investors included Boulder Ventures, Core Capital Partners, Kinetic Ventures, Intersouth Partners and Davenport Capital Ventures. Previous investors Optical Capital Group and the Grosvenor Funds also contributed. Quantum said it would use the financing to expand its sales efforts and manufacturing capability.
The Jessup, Md.-based company was founded in 1998 and makes components for optical telecom networks. Quantum closed its first funding round in July 2000 and has generated revenue from its product sales and research for the past three years. As a result of the funding, Kinetic Ventures, Boulder Ventures, Intersouth Partners and Core Capital Partners will each get a seat on Quantum's board.