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Iolon closes third round

Iolon announced Thursday that it has added $7.6 million to its third round of funding, bringing the maker of optical components' total venture financing to more than $76 million. New investors NTT Leasing and Swiss Life contributed to the round along with existing investors including Seagate Technology Investment Holdings, Kleiner Perkins Caufield & Byers, Integral Capital Partners, Goldman Sachs Group and Banc of America Securities. The San Jose, Calif.-based company secured a $9 million line of credit from Western Technology Investment and Costella Kirsch. Iolon makes tunable lasers used in telecom gear, which are capable of transmitting data on a wide range of wavelengths, rather than on a single frequency, and can potentially reduce costs for optical-equipment makers and their carrier customers. John Clark, Iolon's chief executive, said in a statement that the new funding will enable the company to operate "well into 2004" when combined with previously raised cash.

Iolon announced Thursday that it has added $7.6 million to its third round of funding, bringing the maker of optical components' total venture financing to more than $76 million. New investors NTT Leasing and Swiss Life contributed to the round along with existing investors including Seagate Technology Investment Holdings, Kleiner Perkins Caufield & Byers, Integral Capital Partners, Goldman Sachs Group and Banc of America Securities. The San Jose, Calif.-based company secured a $9 million line of credit from Western Technology Investment and Costella Kirsch.

Iolon makes tunable lasers used in telecom gear, which are capable of transmitting data on a wide range of wavelengths, rather than on a single frequency, and can potentially reduce costs for optical-equipment makers and their carrier customers. John Clark, Iolon's chief executive, said in a statement that the new funding will enable the company to operate "well into 2004" when combined with previously raised cash.