Service Provider Networks / Optical /

Salira secures more funding

By Terri Gimpelson
The Edge, 02/27/02

Salira Optical Network Systems announced Wednesday it has raised an additional $7 million in new equity and debt financing.

The company says this new funding closes a Series B round of $22.1 million. Overall, the company has raised $29.1 million since its founding in July 2000.

Sofinnova Ventures is the newest participant in Salira's funding attempts. The second round was led by Mobius Venture Capital. Pac Rim Venture partners and Manitou Ventures also contributed.

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Salira also announced an additional $2 million in revolving credit from Heller Financial.

Salira says it will use the new funding to facilitate the deployment of its gear into trials and general availability. The revolving credit, the company says, will be used to finance equipment and inventory and to prepare for the production and shipment of its Ethernet passive optical network products during the second half of 2002.

Separately, the company announced that it has moved its headquarters from San Jose, Calif., to a larger facility in Santa Clara, Calif. The new facility features a systems integration and test center for the company's access products. Salira says it will move its administrative, operations, marketing and sales activities to the new location.