Sydney, Australia (26 September 2005). Engana Pty Ltd., a leading innovator of wavelength selective switch (WSS) modules for use in reconfigurable optical add/drop multiplexer (ROADM) applications, today announced the closing of an A$8 million (US$6 million) Series B financing round. The round was led by new investor Starfish Ventures, together with previous investors Technology Venture Partners, DB Capital Partners (via its Ericsson-Deutsche Technology Fund), Intel Capital, and private investors. The deal will enable Engana to continue its development of WSS and other key network submodules, and to grow it manufacturing and global marketing capabilities.
Founded in Sydney, Australia, by Drs Simon Poole and Steve Frisken, Engana targets the development of intelligent optical subsystems for next-generation optical communications networks.
According to Dr Poole, “We are extremely pleased that these investors have chosen to fund Engana through this critical growth phase. This round of investment will enable Engana to apply its programmable optical platform to the intelligent modules and subsystems our customers need for next generation networks.”
Michael Panaccio, Investment Principal at Starfish Ventures said, “We are very excited to be supporting Engana through the crucial next phase. The deep industry experience of the team and the strong technology position gives us great confidence that the company is very well positioned to extend its leadership position in the optical subsystems market.”
Engana's product road map incorporates the development and manufacture of a range of products for next-generation reconfigurable optical communications networks. Functionality and performance are enhanced through Engana's advanced software algorithms and hardware design, providing powerful and flexible solutions. In particular, the Engana WSS has the ability to offer an arbitrary, remotely reconfigurable channel plan, which is compatible with 40 G systems, and includes integrated dynamic channel acquisition. Engana's platform technology enables flexible and dynamic networking including remote provisioning.
Engana Pty Ltd develops, manufactures and markets intelligent optical modules for next-generation reconfigurable optical communications networks. The Engana team has founded and built several successful photonics companies and have a track record of innovation, development of automated manufacturing systems and delivery of advanced high-reliability photonics products to the optical communications market.
About Starfish Ventures
Established in 2001, Starfish Ventures is an Australian owned venture capital fund manager seeking superior returns through active investment in companies with innovative technology. Starfish Ventures manages funds with committed capital of approximately $180 million and invests in all technology sectors including information and communications technology, biotechnology and life sciences, industrial technology and material sciences. The team's track record includes Australian technology success stories ResMed, Moldflow, Preston Aviation Solution and Sirtex Medical.