Skorpios Technologies, Inc. Announces the Close of a $19 Million Series B Financing Round
Ericsson, Nokia Siemens Networks and Other Leaders in the Communications Networking Ecosystem Participated in the Round
ALBUQUERQUE, N.M., Sept. 15, 2011 /PRNewswire/
— Skorpios Technologies, an innovator in composite silicon photonic technology, today announced it has closed a $19 million Series B round of financing. The funds will be used to expand the company’s infrastructure and complete the commercialization of its technology.
“We are obviously very pleased to have closed such a substantial funding round and thrilled to have the support of industry leaders from throughout the communication networking ecosystem,” said Stephen Krasulick, President and CEO of Skorpios Technologies.
Ericsson, Nokia Siemens Networks and other leaders in the communications ecosystem participated in the funding. Also participating were founding investors Cottonwood Technology Fund and Sun Mountain Capital.
“Skorpios’ large scale silicon photonics technology and integration process is spearheading the evolution of the networking industry,” said Jan Haglund, President of Product Area IP & Broadband at Ericsson. “With this technology we will be able to bring even better solutions to our customers.”
“The participation of these strategic investors in this funding round is confirmation of what we believed to be true when we led the initial funding of Skorpios. We couldn’t be more pleased with how well this team has executed,” said David Blivin, Managing Director at Cottonwood Technology Fund.
Alexander Niepel, Head of Business Development for Optical Networks at Nokia Siemens Networks, said, “Our continued interest and investment in Skorpios is a key part of our next generation optical connectivity portfolio. We believe the combination of Skorpios’ differentiating component technology and Nokia Siemens Networks’ innovative connectivity solutions can create an ecosystem that brings significant benefits in terms of both cost and performance.”
“Skorpios has demonstrated the viability of their technology. This funding will enable the commercialization and widespread deployment of their solution and has the potential to transform and broaden the reach of the communications industry,” said Lee Rand, Partner at Sun Mountain Capital.
About Skorpios Technologies
Founded in July 2009 by experienced entrepreneurs and industry executives who set out to revolutionize the optical communications industry, Skorpios Technologies applies its highly disruptive technology to solve the biggest issues facing the industry.
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