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Sabeus Photonics picks up $16 million

Sabeus Photonics, an optical components company, said it has raised $16 million in a third round of funding. The company, which is a supplier to manufacturers such as Marconi and Alcatel Submarine, has raised a total of $24 million. The funding was led by TL Ventures. Digital Coast Ventures, CSFB Ventures and Redpoint contributed to the round. Sabeus says it will use the funds to market "high-concept" optical devices and to expand its manufacturing facilities.

Sabeus Photonics, an optical components company, said it has raised $16 million in a third round of funding. The company, which is a supplier to manufacturers such as Marconi and Alcatel Submarine, has raised a total of $24 million. The funding was led by TL Ventures. Digital Coast Ventures, CSFB Ventures and Redpoint contributed to the round. Sabeus says it will use the funds to market "high-concept" optical devices and to expand its manufacturing facilities.