Movaz secures series C funding

May 7, 2002 — Movaz Networks Inc. has announced the closing of a $60 million funding round consisting of series C financing and strategic business agreement.

The company’s founder and board chairman, Bijan Khosravi, said he thinks this will be the last round of funding. The company, which makes hardware and software for all-optical networking, says it has been shipping products since the fourth quarter of last year. Its iWSS switching platforms use MEMS switch arrays.

Investors include Oak Investment Partners, Worldview Technology Partners, Menlo Ventures, Meritech Capital Partners, Anschutz Investment Company, Telus Ventures, Silicon Valley BancVentures Inc. and GATX Ventures Inc. Oak led the round.


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