4/19/2005 - BeamExpress Inc., a producer of innovative optical transceiver/transponders used in the 10Gigabit (GbE) enterprise applications, announced that it closed a $14.2M funding round led by Oak Investment Partners along with existing investors Index Ventures and European Technology Ventures (ETV). As an entry product platform, BeamExpress is delivering solutions today to key accounts, to serve 10GbE customers with installed legacy multimode applications in the Enterprise. The investment will be used to broaden the existing customer base, to fund production volume ramp-up of the current product line, to further develop new products, and commercialize its long wavelength vertical cavity surface-emitting laser (VCSEL) technology.
“This round validates the transformation of BeamExpress since its inception in August 2001, from a technology spin-off from EPFL (The Swiss Institute of Technology in Lausanne, Switzerland) into a world-class transceiver manufacturer. We are very pleased to have the support of such an experienced syndicate of investors,” said Jean-Claude Charlier, President and CEO of BeamExpress.
David Walrod, General Partner at Oak Investment Partners, will join the board of BeamExpress. David added, “Beam Express is uniquely positioned to be a leader in providing contributive transceiver products for enterprise networks now, with an even brighter future based on its leading edge long-wavelength VCSEL technology.”
“By adding a highly talented transceiver team in the Valley to its original world class optical device group in Switzerland, the company has been able to deliver best in class 10 Gigabit optical modules and is well poised to sustain its product innovation leadership in the future,” said Giuseppe Zocco, General Partner at Index Ventures.
Bor-long Twu, COO of BeamExpress, added “We are very pleased with the market acceptance of our new product line of 10GbE LX4 standard-compliant Transceivers that allow our customers, the networking equipment manufacturers, to provide the only existing cost effective solution guaranteed to work with installed legacy multimode fiber applications. It’s a great credit to our team to be the first in the industry to offer LX4 transceivers in both the required X2 and Xenpak form factors.”
Recent Infonetics research highlighted that worldwide revenue for service provider routers and switches grew 26% between 2003 and 2004 to $6.1 billion, and is projected to grow to $8.9 billion in 2008.
Beam Express is an innovative company with proprietary multi channel fiber optic technology that designs and manufactures advanced fiber optic transceiver/transponder modules for the next generation networks (Enterprise, Metro, Long Haul and Access) running at speeds of 10Gbps and beyond. BeamExpress is also a global leader in the long wavelength VCSEL technology that will serve as the foundation for future highly integrated product lines. For more information, please visit the company website at www.beamexpress.com or send an email to firstname.lastname@example.org.
About Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm with a total of $5.8 billion in committed capital. Investments are primarily focused on growth opportunities in enterprise applications and infrastructure software, communications equipment and services, data storage, financial services technology, outsourced services, healthcare services and retail. Over Oak’s 25-year history, it has achieved a strong track record as a stage-independent investor funding more than 350 companies at various points in their lifecycle. Oak has been involved in the formation of companies, provided growth equity to mid- and late-stage businesses and financed management-led buyouts, as well as spinouts of operating divisions and technology assets. Additional information can be found at the firm’s website at www.oakvc.com.
About Index Ventures
Index Ventures is a venture capital firm dedicated to helping top entrepreneurial teams build their companies into global leaders. Index proactively seeks out entrepreneurs who are committed to solving real problems with a novel approach and help them develop their company by leveraging the combined experience, networks and resources of the entire partnership.
Index recently announced the closing of its fourth fund of EUR300m, which brings its total funds under management to EUR750m. The Index team has been active in technology venture investing since 1996 and has become a major player on the VC world stage with an unrivalled network spanning Europe and the US. The firm has offices in Geneva, London and Jersey and focuses its investment activity primarily on Europe and Israel. IT investments include Betfair, now the world’s largest betting exchange; Virata, (acquired by Conexant) a world leader in DSL and other communication chipsets; Skype (global P2P telephony service); MySQL (the world’s most popular open source database); and KVS (email archiving firm recently sold to Veritas). www.indexventures.com.
ETV is a pan-European Venture Capital company based in Vienna and is listed on the Austrian stock exchange. ETV is managed by Atila Ventures Partners with offices in Lausanne, Bermuda and Munich. Atila Ventures advises on investments and brings its international network and operational know-how to high technology companies within Europe. Investments are made in the field of microelectronics, datacoms and information technology. Additional information can be found on the firm’s website at www.atilaventures.com
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