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17 Jun 2002
VPI Virtual Photonics, makers of software design and planning tools for optical networks has announced the closing of its third round of financing, with the injection of $20 Million in venture capital.
VPI founder and CEO Dr Kay Iversen said the company selected Weiss Peck & Greer as the lead investor following approaches from 50 investor groups and intense dialog with a dozen venture firms.
Dr Raj Mehra, a General Partner of the Weiss Peck & Greer Networking Fund, which focuses on wireless and photonics infrastructure, said the decision to invest in VPI was easy. "VPI is an enabler for the young and rapidly growing optical industry. While we have seen a lot of product innovations in optics over the last few years, process innovations are urgently needed to streamline production in the face of highly complex technical issues and an intense shortage of skilled labor. VPI provides quality tools that meet this need".
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