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VC Watch: Alloptic nabs $35 million

The fiber-optic network company closes its fourth round of funding...Pixim receives $22 million... Mangrove Systems gets $20 million.

Which companies will be the trendsetters of the future? The following list is the latest news from start-ups here and abroad that have received venture funding.

Has your company just completed a round of financing or received other venture capital support? E-mail the editors at CNET News.com.

Recent Deals

• Alloptic announced Monday that it raised $35 million in a fourth round of funding, led by previous investors GMG Partners and Athenian Venture Partners. The Livermore, Calif.-based company has raised a total of $80 million in funding. Alloptic provides a service to bundle data, video and voice services over fiber optic networks and deliver them to homes and businesses.

• Pixim announced Thursday that it raised $22 million in a fourth round of funding, led by China Development Industrial Bank. New investor Newbury Ventures contributed to the latest round, along with previous investors Mohr Davidow Ventures, Mayfield, Synopsys and VentureTech Alliance.

The Mountain View, Calif.-based company has raised a total of $58.9 million to date. Pixim develops imaging software tools and chipsets for use in digital cameras.

• Networking company Mangrove Systems announced Tuesday that it raised over $20 million in its first round of funding. Companies participating in the round were Bessemer Venture Partners, Highland Capital Partners, Columbia Capital and Silicon Valley Bank. Mangrove Systems, based in Wallingford, Conn., was founded by Jonathan Reeves, the company's chief executive. Reeves also founded Sahara Networks, which was acquired by Cascade Communications for over $200 million, and then later created Sirocco Systems, another networking company, acquired by Sycamore Networks in a deal valued at $3 billion in 2000. Mangrove Systems said it is developing a networking switching system to allow telecommunications carriers to migrate their existing infrastructures to next-generation protocols without expensive upgrades.

• ManageStar announced Wednesday that it raised $7 million in a third round of funding, led by Foundation Capital. Charter Venture Capital and Dominion Ventures also participated in the round. The Walnut Creek, Calif.-based company has raised a total of $21 million in funding. ManageStar develops automation software designed to help departments within a company track work flow and progress of projects.

• Millennial Net announced Monday that it raised a $6 million first round of funding. Globespan Capital Partners, Kodiak Venture Partners and General Catalyst Partners contributed to this round. Kodiak and General Cayalyst will receive seats on Millennial's board. Cambridge, Mass.-based Millennial develops small, low-power wireless sensor networking devices called i-Beans.