Skorpios Technologies Receives $2 Million Follow-on Investment Bringing Series B to $21 Million
Deutsche Telekom Joins Existing Syndicate Members in Support of Advance Core Technology Solving Critical Issues Facing Electronics Industry
ALBUQUERQUE, N.M., Nov. 29, 2011 /PRNewswire/
— Skorpios Technologies Inc., an innovator in composite silicon photonic technology, today announced a follow-on investment to its Series B round of $19 million. The additional $2 million provided by T-Venture, Deutsche Telekom’s venture capital company, brings total investment in the round to $21 million.
“We are delighted to welcome Deutsche Telekom to the investment syndicate,” said Stephen Krasulick, president and CEO of Skorpios Technologies. “The support of global carriers, such as Deutsche Telekom, in addition to major equipment companies and systems integrators, validates the market need for Skorpios’ differentiating component technology. Our platform is a key enabler to reducing costs and improving performance in next-generation optical communications equipment.”
“The integration of today’s separated building blocks into a single chip provides various important effects for our network, such as capex and opex savings at the aggregation layer and core, but also the economic enabling of new technologies that are essential to our strategy,” said Bruno Jacobfeuerborn, Director of Technology, Telekom Deutschland GmbH. “We are happy to support Skorpios in the realization of this disruptive approach with the investment from T-Venture.”
The $21 million in Series B funding will be used to expand Skorpios Technologies’ infrastructure and complete the commercialization of its core technology, an advanced composite semiconductor on insulator technology that will enable the next generation of optical networking equipment.
Other investors in this round include leaders in the communications networking ecosystem, along with return venture capital investors Cottonwood Technology Fund and 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 Inc. applies its highly disruptive technology platform to solve some of the biggest issues facing the electronics industry.
T-Venture Holding GmbH was founded in 1997 as a 100% subsidiary of Deutsche Telekom AG. Since then, T-Venture have invested in young companies that demonstrate economic and technological synergy with the business ideas of Deutsche Telekom and who also promise an above-average potential for growth. The company is based mainly in Bonn and supports and supplements the commitment of T-Venture of America Inc. in Foster City, Silicon Valley and in Seattle. Regional areas of core investment activity are in Europe, the United States of America and in Asia. Currently T-Venture manages the T-Mobile Venture Fund, the Connected Life and Work Fund, the T-Home Venture Fund, the T-Systems Venture Fund, and the T-Corporate Venture Fund.
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