Optical Technologies Reels in $28 Million in New Funding

MONTREAL, Canada, July 11 -- ITF Optical Technologies received $28 million in new investments, which will go directly into the growth of the company said the privately held developer of passive photonic components. The new wave of investments brings the company's total funding to $38 million since it opened in February of 1998.
ITF Optical Technologies markets and manufactures passive photonic components. The company's proprietary All-Fiber technology is capable of processing light in the fiber itself -- reducing transmission losses in the company's photonic components as well as accommodating high optical power and providing the flexibility needed for custom requirements said ITF.
The company's new investors include Essex Investment, Galen Investment Advisors, HRLD Venture Partners, Oppenheimer, Tyco Ventures, WIT Soundview, and a fund managed by WIT Soundview Ventures. Original investors include GTI Capital, Celtic House, Ontario Teachers Pension Plan Board, and Newbridge Networks.