Memlink Completes Round Of FundingAll Optical Switching Start-Up Secure Additional $21 MillionHERZELIA, Israel--(BUSINESS WIRE)--Aug. 15, 2000--Memlink, a leading developer of all optical switching solutions, today announced that it has raised $21 million of funding. This round investors are Oak investment Partners, Redwood Partners and Lucent Venture Partners joining Israel Seed Partners which led an earlier $3 million pre-seed investment. Other investors in Memlink include Nisco industries, MKG-SBC and individual investors. Memlink will use the funds to accelerate its product development, to establish a US based headquarters, and to set the foundations for its manufacturing facilities. "Memlink is developing a unique cross connect switch with breakthrough performance and economics,'' said David Walrod of Oak Ventures. "The combination of Memlink's stellar founding team, it's revolutionary technology, and the backing of a strong group of investors, makes Memlink one of the most promising companies in the Optical Networking space.'' Memlink was founded in 1999 to address the need for all-optical switching solutions for the core fiber optic network. Memlink's products are based on unique MEMS technology and fabric architecture and are targeted initially at the optical cross-connect (OXCs) market. The innovative technology and architecture of Memlink result in a smaller, and more reliable system, with seamless scalability and breakthrough cost/performance ratio. "We are very excited about our new investors and the relationships they will help us establish,'' said Dr. Avi Messica, General Manager of Memlink. "In addition to critical growth funding, this agreement also provides us with world class partners from the venture capital community,'' he said. Avigdor Huber, Memlink's Chairman has added "We expect to leverage the optical networking experience of our new investors as we move forward with customers and new product trials, and strategic partnerships.'' MemlinkMemlink is a leading designer and manufacturer of all optical switching solutions for fiber optic communications networks. It provides customers with the best carrier class all optical sub systems for optical cross-connect applications. Memlink products reduce the cost of ownership of optical network equipment while greatly enhancing transmission quality and performance. Memlink was founded by Igal Chertkow, Avigdor Huber, Slava Krylov, Moshe Medina, Avi Messica and Yehuda Rosenblatt. For more information, please contact Memlink. Web site: http://www.mem-link.com/ Contact:
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