Tropic Networks Inc. announces $20 million US in financing

Fiber Optics Weekly Update, Feb 7, 2003

Tropic Networks Inc. announced the completion of financing totaling US$20 million, based around a conservative plan to cash flow positive. Five existing investment firms participated in the company's third round of financing: Celtic House Venture Partners (lead investor), Goldman Sachs' Private Equity Group, Kodiak Venture Partners, Crescendo Ventures and the Teachers' Merchant Bank, the private equity arm of the Ontario Teachers' Pension Plan. This financing round follows Tropic's decision to streamline its business strategy around the metro-DWDM market.

Tropic has gained significant traction in this market with its ability to deliver on the promise of true transparent optical networks. Having successfully completed a number of customer lab and field trials, the company has now moved into the full deployment phase. Tropic will use this round of funding to manage demand for its products and solutions, secure strategic alliances and gain deeper market penetration.

Tropic Networks delivers next-generation metro-optical networking solutions. The centerpiece of the Tropic solution is the TRX-24000 metroDWDM platform, integrated with Wavelength Tracker optical layer intelligence technology. The TRX-24000 plafform takes ITU grid light from an existing SONETISDH ADM, switch or router and transports it across multiple rings while staying in the optical domain for 600 km and beyond. Wavelength Tracker technology, a Tropic exclusive, provides the essential monitoring and failure detection functionality to manage the signal as it travels throughout the network.