Communication giant SBC leads investment in Israeli optical network startup Atrica
Four major telcos participated in a second round of financing for Israeli startup
. The four, Israeli phone company
Bezeq
,
(NYSE:SBC),
(NYSE:FTE), and
put up $18 million.
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The round was led by SBC, one of United States largest communication providers. Previous investrs
(Nasdaq:COMS), Benchmark Capital, and Accel Partners took part this time round too.
Bezeq's strategy is to invest directly in Israeli communication startups and venture funds.
Atrica CEO Avinoam Rubinstain said that press stories claiming the company had planned to raise more were wrong. He added that the money raised would suffice until 2002, when company plans to raise an additional $40 million.
Atrica was founded in February 2000 by executives from 3Com,
(NYSE:NT), and
(NYSE:LU). The company develops optical solutions for Ethernet Optical data communication networks. EO networks combine the traditional data transfer technology of the Ethernet with the speed and efficiency of the optical network.
Rubinstain says the strategic investors who joined this round of financing are potential customers for these products. He added that the company intends to go public within two years.
Atrica currently employs 110 people and maintains a development center in Herzliya, Israel, a sales office in Paris France, and headquarters in San Jose California.
