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Quantum Photonics Closes $27.6 Million Funding
February 13, 2002
By Roy Mark

Quantum Photonics, Inc., a developer and producer of optoelectronic components, modules and sub-systems for telecommunications and data communications applications, has completed its second round of funding with $27.6 million. The funding will be used to expand its sales and marketing efforts and achieve full-scale production of its product lines.

Founded in January 1998 by Dr. Mario Dagenais and Dr. Peter Heim, Quantum has achieved numerous technical and managerial milestones since its first round of funding in July of 2000 including sampling its initial laser products and the construction of production facility in Jessup, Md.

"This funding enables the company to bring its superior amplification technology to market," said Stephanie Rogers, vice president of private equity at Optical Capital Group. "The company's success during this challenging financial environment demonstrates the strength of its business strategy to be executed by a world-class technical, manufacturing and management team."

The company's new investors include Boulder Ventures, Core Capital Partners, Davenport Capital Ventures, Draper Atlantic, EDB Investments, Intersouth Partners, Kinetic Ventures, and Riggs Capital Partners. The Series B financing also was subscribed to by previous investors, Optical Capital Group and The Grosvenor Funds.

"We were impressed by Quantum's innovative approach for manufacturing high-performance, semiconductor-based integrated optoelectronic components," said Jonathan Silver, managing director of Core Capital Partners. "The company's superior product design yields laser chips and SOA-based devices with higher performance and greater space efficiency at a much lower cost than competitive products."

William Heflin of Kinetic Ventures, Andrew Jones of Boulder Ventures, Don Rainey of Intersouth Partners, and Jonathan Silver of Core Capital Partners join the existing Board of Directors comprised of Stephanie Rogers of Optical Capital Group, Bruce Dunnan of The Grosvenor Funds, and Dan Petrescu and Mario Dagenais of Quantum Photonics.

Quantum is led by by Chief Executive Officer Dan Petrescu who, prior to joining the Company, was a senior executive at Newport Corp. in Irvine, Ca.

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