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Optical Network Group Mintera Raises Another $18. Million

LONDON — Optical networking group Mintera Corporation has completed a Series B round of financing that raised $18.5 million, the first investment since an original round in December 2000 raised $26.5 million.

Mintera (Lowell, MA.) focuses on 40Gbit/s transport sub-systems for metro, regional, long-haul and ultra long-haul networks. It will use the extra funds to continue product development and to expand sales.

The latest round was co-led by new investors Polaris Venture Partners and RRE Ventures. Existing investors including Court Square Ventures, Star Ventures and Portview Communications Partners also participated.

However Sycamore Networks, an earlier investor and with whom Mintera had an R&D contract form the beginning, did not participate in the Series B round.

As part of the fundraising, industry veterans Bob Metcalfe, General Partner of Polaris Ventures and founder of 3Com, where he 'invented' Ethernet, and RRE General Partner Rich McGinn, a former CEO at Lucent Technologies, are joining Mintera's board of directors.

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