Optiwave Corp., an Ottawa, Canada-based developer of optical simulation software for the fiber-optics telecommunications industry, said it has secured $7 million in financing from VenGrowth Capital Partners and the Business Development Bank of Canada (BDC).
This financing will enable Optiwave to support its long-term growth and strategic goals, officials said. It also marks the first time in 8 years of operation that Optiwave has received external funding.
Optiwave's software helps in the development of design, simulation and optimization of components, links, and systems for the dynamic fiber optics telecommunications industry and other photonics applications. Optiwave also provides custom products through engineering design and consulting.
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