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Tropic secures US$33M From Alcatel, others

Tropic Networks Inc., an Ottawa-based supplier of regional and metro-area optical networking equipment, today annou...


July 29, 2004  


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Tropic Networks Inc., an Ottawa-based supplier of regional and metro-area optical networking equipment, today announced it has secured US$33 million in Series D financing.

This round was led by Alcatel and also includes Tropic’s current investors — Celtic House Venture Partners, Crescendo Ventures, Goldman Sachs, Kodiak Venture Partners and Teachers’ Private Capital, the private equity arm of the Ontario Teachers’ Pension Plan.

“Strong investor commitment validates our business strategy and will help drive the company to the next level,” said Kevin Rankin, CEO, Tropic Networks. “The firm backing of our new and existing investors will help us meet growing customer demand for our products in both the North American and global marketplace.”

Tropic’s reconfigurable OADM (ROADM) technology offerings enable service providers to remotely reconfigure add and drop capacity at each node, delivering the enhanced functionality operators require to cost-effectively upgrade their network without affecting in-service traffic.


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