SAN JOSE, Calif.--(BUSINESS WIRE)--Capella Intelligent Subsystems, the leading provider of wavelength selective switches (WSS) for use in reconfigurable optical add/drop multiplexer (ROADM) and optical cross connects, today announced it closed a $20 million financing. The oversubscribed round was led by Black Diamond Ventures. Other participants in the investment include SingTel Innov8, the corporate venture arm of the SingTel Group, Levensohn Partners, Formative Ventures, Lucas Venture Group and Rustic Canyon Ventures.
The $20 million in new capital will be used to expand and strengthen Capella’s presence in the ROADM market, which is expected to grow to $1.8 billion over the next four years according to Infonetics Research. New product offerings and operational improvements are Capella’s key focus in the coming months, as the Company expands to meet growing market demands.
“With the increasing need of optical network flexibility and reliability, Capella's Wavelength Selective Switch (WSS) has the potential to significantly reduce service provider CAPEX and OPEX,” said Yvonne Kwek, CEO of SingTel Innov8. "As service providers build out and upgrade their networks, Capella’s WSS technologies provide a compelling competitive advantage."
“We believe Capella’s technology leadership in the wave selective switch market will continue to expand through various consumer applications. VoIP, VoD, and video gaming are just a few of these consumer applications made possible by Capella,” commented Christopher B. Lucas, Founder and Managing Director of Black Diamond Ventures. “With the recent additions to their senior management team, Capella is poised for what we expect will be a period of explosive growth for the company worldwide.”
About SingTel’s Innov8
SingTel Innov8 (Innov8), a wholly-owned subsidiary of the SingTel Group, is a corporate venture capital fund, with its own set of decision making, approval and funding processes. It has an initial fund size of S$200 million. Innov8 focuses its investments on technologies and solutions that lead to quantum changes in network capabilities, next generation devices, digital content services and enablers to enhance customer experience.
About SingTel Group
SingTel is Asia’s leading communications group providing a portfolio of services including voice and data solutions over fixed, wireless and Internet platforms as well as infocomm technology and pay TV. The Group has presence in Asia and Africa with 383 million mobile customers in 25 countries, including Bangladesh, India, Indonesia, Pakistan, the Philippines and Thailand. It also has a network of 36 offices in 19 countries and territories throughout Asia Pacific, Europe and the United States.
About Capella Intelligent Subsystems
Capella is the industry leader of wavelength selective switch (WSS) technology for use in reconfigurable optical add/drop multiplexers (ROADM) and optical cross connect (OXC) applications. Capella's patented CRx® and WavePath® products provide the best performing WSS on the market offering dynamic, remote reconfigurability with fully integrated optical channel monitoring (OCM) for simplifying network operations and planning, while dramatically reducing costs. Capella's products are used in both metro and long haul applications. Founded in 2000, Capella is a privately held company located in San Jose, California. For more information, go to: www.capellainc.com.