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Genoa snags more funding

Optical chipmaker Genoa announced Monday it has completed its third round of funding and received investments totaling $95 million. The Fremont, Calif.-based company said it pulled in $75 million for the round with proceeds coming from August Capital, Bessemer Venture Partners, Global Crossing, Investor AB, Levensohn Capital, Meritech Capital Partners, Oak Investment Partners and WorldCom Ventures. The company is developing a chip-size amplifier for metropolitan optical networks that strengthens light signals as they travel through a network. Current amplifiers are about the size of a shoebox and cost between $15,000 and $30,000. The company hopes to drastically reduce the cost and size of the equipment to make amplifiers more easily installable in metro networks. August Capital led the original investment in Genoa in 1998.

Optical chipmaker Genoa announced Monday it has completed its third round of funding and received investments totaling $95 million. The Fremont, Calif.-based company said it pulled in $75 million for the round with proceeds coming from August Capital, Bessemer Venture Partners, Global Crossing, Investor AB, Levensohn Capital, Meritech Capital Partners, Oak Investment Partners and WorldCom Ventures.

The company is developing a chip-size amplifier for metropolitan optical networks that strengthens light signals as they travel through a network. Current amplifiers are about the size of a shoebox and cost between $15,000 and $30,000. The company hopes to drastically reduce the cost and size of the equipment to make amplifiers more easily installable in metro networks. August Capital led the original investment in Genoa in 1998.