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17 Jun 2002
Kymata, a Scottish developer of optical components for telecommunications, has attracted 75 million Euros (USD 72 million) in its latest round of financing. This is one of the largest sums given to an optical components firm and brings the total external investment in the company to 93 million Euros (USD 89 million).
The latest investment will allow Kymata to fit out its second manufacturing plant in Livingston, Scotland. The company also plans to serve its North American customers by establishing an engineering capability in Ottawa, Canada, and offices in California and the East Coast of the US.
New investors in the company include Kleiner Perkins Caufield & Byers and Bowman Capital, which led the funding with 3i, TeleSoft Partners and ComVentures. Existing investors, such as ACT Venture Capital, have also made a further investment.
"The insatiable demand for bandwidth is pushing optical technology from the core to the curb," said Vinod Khosla, a partner at Kleiner Perkins Caufield & Byers. "More cost-effective, highly integrated semiconductor-like designs and manufacturing will dominate in the future. Kymata is poised to lead this next wave of innovation."
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