Wilmington, DE – October 16, 2001 – Proximion Fiber Optics AB, a supplier of in-fiber-intelligence for safeguarding and enhancing the performance of optical networks, has secured its second round of private financing totaling $10 million. The funds will be used to ramp up production of Proximion's integrated optical monitoring and channel monitoring product, as well as help the company expand its international sales organization. Celtic House and Add Partners participated in the round, joining InnovationsKapital, the lead investor in Proximion's initial round of funding.
“As carriers evolve their networks with all-optical switching, bandwidth on demand and narrow channel spacing, network monitoring and management becomes paramount. Proximion addresses this need with a unique perspective and tremendous expertise in Fiber Bragg Grating technology,” said Tomas Valis, general partner at Celtic House.
Based on advanced Fiber Bragg Grating (FBG) technology, Proximion's product architecture embeds functionality into the optical layer to detect and counteract network faults and reduce the costs resulting from network downtime. The company's first product, WISTOM, combines both optical channel monitoring and optical performance monitoring onto one platform. With this high level of functionality, the system analyzes the performance of individual wavelength channels and pinpoints problems to be resolved to ensure Quality of Service (QoS) for network operators. This additional round of funding will enable Proximion to enhance the production of WISTOM and increase international sales.
Proximion is a spin-off from the renowned research institute ACREO, previously the Institute of Optical Research. Currently headquartered in Kista, Sweden, Proximion is rapidly positioning itself as a provider of optical monitoring components in North America and is continuously expanding its efforts into new markets worldwide.