Onix Microsystems Secures $70 Million

RICHMOND, Calif., March 20 -- Onix Microsystems Inc., a developer and manufacturer of optically transparent switching engines for communications networks, announced that is has secured $70 million in equity and debt financing in its third round of funding.
JK&B Capital led the third round of equity funding, with participation from Alliance Select Investors, Essex Private Placement Fund, Millennium Technology Ventures, Randolph Street Partners, Sinwave Venture Capital Limited, Trust Company of the West and Zimmer Lucas Partners. Analog Devices Inc. has also participated in the round as a strategic investor to emphasize their partnership with Onix. Previous investors Bank of America Venture Partners, Advanced Technology Ventures and Azure Capital Partners continued their support of Onix by also participating in this third round of funding. In addition to raising $50 million in equity investment, Onix secured a $20 million equipment loan agreement with Western Technology Investments, Silicon Valley Bank, and GATX Ventures Inc.
"We are very excited to have such high-quality financial investment partners join us in this round, as well as the continued support from our previous investors," said Steve Panyko, president and CEO of Onix Microsystems. "We expect that this additional funding will further expand our manufacturing capabilities and give us additional financial leverage to bring our all-optical switching engine product offerings to market."