Press releases
Syntune AB receives USD 7.1 million financing
Tunable laser manufacturer closes second round
Stockholm, Sweden (August 29, 2007) – Syntune AB, a leading developer of innovative, single-chip, widely tunable lasers, today announced that it has closed the second round of financing of SEK 47.8 million ($7.1 million, EUR 5.2 million). The round was led by InnovationsKapital of Sweden; other investors who participated in the round were Teknoinvest, Vision Capital and existing private investors.
"This round of investment enables us to ramp production more quickly, as well as grow our customer base for both our first generation of tunable products as well as our second generation 10 Gb/s tunable transmitter product," said Patrik Evaldsson, CEO of Syntune. Syntune's product line includes the S3500 – a widely tunable CW laser, the S3600 – an MSA compliant Integrable Tunable Laser Assembly (ITLA) and the S4500 – the world's first truly monolithic, integrated 10 Gb/s tunable transmitter. Syntune lasers' patented design provides leading edge functionality in the world's smallest package, with the lowest power consumption.
"Syntune's approach of using world class foundries in both chip and packaging fully leverages our investment," says Peder Holm, Investment Director at InnovationsKaptial. "We are excited about supporting this next phase of this rapidly growing company." Syntune has chosen premier manufacturing partners, such as CyOptics, Inc., of Lehigh Valley, Pennsylvania, to ensure a consistently reliable product. Cyoptics' products are manufactured on mature processes both in chip fabrication and packaging. These products have accumulated over 120 billion device service hours in the most sophisticated telecommunication systems worldwide.
"We have made great progress in the marketplace and look forward to supporting the volume demands of our customers," says Kevin Green, VP Marketing and Sales. According to CIR's estimates, tunable lasers will be the fastest growing major segment of the components market, reaching almost one billion US dollars by 2012.
For further information please contact
Kevin Green, VP Marketing and Sales Syntune, Inc., phone +1 847 894 4589, e-mail kevin.green@syntune.com
About Syntune
Syntune (www.syntune.com) supplies state-of-the-art widely tunable lasers for applications ranging from fiber-optic communications to sensor systems. In communications, Syntune's lasers enable universal DWDM transceivers with low power consumption in a small form factor. These drastically reduce overhead costs for sparing and maintaining inventories. Tunability also enables flexible networks, which allows operators to offer innovative services and reduces their operational expenditures.
About InnovationsKapital
InnovationsKapital (www.innkap.se) was founded in 1994 and is a leading early stage venture capital firm for innovative growth companies in the Nordic region. The business, carried out from offices in Gothenburg and Stockholm, is focused on Nordic investments within ICT and Healthcare & Life Sciences — dynamic sectors that are rapidly expanding and where Nordic research plays an important role. The capital (EUR 200 million) is managed in three funds and is provided by highly reputable Swedish and international institutional investors.
About TeknoInvest
Teknoinvest Management AS (www.teknoinvest.no) is a leading Scandinavian venture capital company based in Norway that invests in emerging technologies within the IT/Telecom and Life Sciences sectors. The main geographical focus is Scandinavia and the US. Teknoinvest is the Nordic venture capital firm with the longest track record following its establishment in 1984 and it currently manages funds of NOK 1.1 billion.
About Vision Capital
Vision Capital (www.visioncap.com) is a Trans-Atlantic fund providing growth capital for leading technology companies. Vision invests in promising European and US technology companies and then takes an active, hands-on approach in expanding these businesses across the Atlantic.