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Picolight raises $27 million fourth round

Picolight announced that it has raised $27 million for its fourth round of funding. The company makes optical components for telecom and computer data storage gear and will use the cash to continue to move towards volume manufacturing of its products. New investor St. Paul Venture Capital participated in the round along with previous investors Bank America Venture Partners, Charles River Ventures and Pequot Capital, all three of which contributed to the company's $38.9 million third round in October 2000 along with Cisco Systems and Corning. The recent funding round brings the Boulder, Colo.-based company's total to about $80 million and gives St. Paul Venture Capital a seat on its board of directors.

    Picolight announced that it has raised $27 million for its fourth round of funding. The company makes optical components for telecom and computer data storage gear and will use the cash to continue to move towards volume manufacturing of its products.

    New investor St. Paul Venture Capital participated in the round along with previous investors Bank America Venture Partners, Charles River Ventures and Pequot Capital, all three of which contributed to the company's $38.9 million third round in October 2000 along with Cisco Systems and Corning. The recent funding round brings the Boulder, Colo.-based company's total to about $80 million and gives St. Paul Venture Capital a seat on its board of directors.