Despite troubled times, Tropic Networks Inc. announced it has secured US$20 million in financing following the release of its latest metro-optical networking offering – keeping its cash flow out of the red.
The Ottawa-based company said Tuesday it has gained the continued support of five existing investment firms, including lead investor Celtic House Venture Partners, Goldman Sachs’ Private Equity Group, Kodiak Venture Partners, Crescendo Ventures and Merchant Bank, the private equity division of the Ontario Teachers’ Pension Plan.
According to Tropic, the financing allows the company to refocus on its metro-DWDM offerings, having previously delivered on its promise of true transparent optical networks with its TRX-24000 metro-DWDM platform.
The TRX-24000, released in October 2002, takes International Telecommunications Union (ITU) grid light from an existing SONET/SDH ADM, switch or router and transports it across multiple rings while staying in the optical domain for 600km.
The platform also integrates with Tropic’s Wavelength TrackerT optical layer intelligence technology, which offers the monitoring and failure detection functionality to manage signals as they travel through the network.
Having completed field-testing, Tropic said it is ready for the full deployment stage and will use the US$20 million in financing to manage demand for its offerings, form strategic alliances and gain more market share.
For details, visit the company online at www.tropicnetworks.com.