Lehman, Corning, Intel Fund Optical Systems Maker

SAN FRANCISCO, July 10 -- Lehman Brothers Holdings Inc., Corning Incorporated, Intel Corp. and others have invested $45 million of capital into Celion Networks, a privately held developer of optical networking systems. The investment, through Lehman Brothers Venture Capital Group, Corning Innovation Ventures and Intel Communications Fund, brings the total amount of private equity Celion has raised since its launch to $51 million. Global Innovation Partners and Sequoia Capital also joined the round of funding.
The funds allow Celion to boost product development and support field trials of its systems, which the company expects to launch in the first quarter of next year. Celion Networks is based in Richardson, Texas.