Qusion Technologies Raising $15 Million Series C Financing

November 30, 2001 — PRINCETON, NJ — Qusion Technologies, Inc. a designer, manufacturer and marketer of fully integrated all optical and electro optical devices for the telecommunications industry has commenced raising $15 million ‘C’ round of financing.

The company expects to close on this round in the first quarter of 2002. Qusion, located in the Princeton Technology Corridor in New Jersey, is installing a facility for fabricating Indium Phosphide based photonic components, and recently commissioned an 8000 sq. ft. ISO Class 5 (Class) 100 cleanroom. The company expects to begin product shipments in that facility during the second quarter of 2002.

The initial product will be wide optical bandwidth 10 and 40 GBPS modulators. These devices will be application specific standard products. \

“Qusion’s proprietary material technology coupled with years of design background enables us to offer these products.” said Qusion CEO Phil Wallace.

Qusion said it will use this round of financing to enhance its manufacturing facility, product development and sales and marketing activities. The company has raised $10 million to date from Wasserstein Ventures, Vantage Point Venture Partners, WR Hambrecht and numerous private individuals.

This round of financing is expected to take Quison to a cash flow positive position, projected for the third quarter of 2003.

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.