kSARIA Corp. Gets $20M 2nd-Round Venture Funding

WILMINGTON, Mass., Dec. 7 -- kSARIA Corp., manufacturer of fiber optic components assembly systems, said it has raised $20 million in second-round venture funding. The latest investment follows an initial $15 million in venture funding nearly a year ago.

kSARIA's second financing round was led by Advent International in Boston, joined by kSARIA's first-round investors: North Bridge Venture Partners, US Venture Partners, Boulder Ventures Ltd. and Spinner Asset Management LLC.

"We're confident kSARIA is the clear leader in automated assembly equipment for the optical components industry," said Douglas A. Kingsley, managing director of Advent International. "When the telecom industry rebounds, manufacturers will have to choose between massive hiring and automation. We believe they'll choose automation and, when they do, kSARIA will be well positioned to capitalize on the opportunity."