Israeli-American optics startup CrossOptix secures $4 million seed financing

It's the perfect time to start developing optics systems for the post-crash era, says CEO
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Startup CrossOptix has secured $4million seed financing from its founders and from private angel investors. It has scheduled its first financing round for the third quarter of 2002.

Chromatis Networks co-founder Rafi Gidron has joined the firm's advisory board, it said. The company anticipates announcing additional members in the near future.

CrossOptix was established four months ago by CEO Dmitry Goroshevsky and VP Business Planning Sophia Babkove, who co-founded deltathree (Nasdaq:DDDC) and Internet Telecom, sold last year to Terayon Communication Systems (Nasdaq:TERN). CrossOptix is developing ultra-high speed optical interconnect solutions for advanced computing platforms and networks. Its standards-compliant core technologies are designed to support a range of current-generation interconnect protocols including Infiniband, Rapid I/O and HyperTransport, the company says.

For next-generation interconnect architectures, the startup is working on proprietary all-optical, multi-terabit, low latency technology, it says.

Its customers will be communications equipment manufacturers and data storage companies such as Cisco Systems (Nasdaq:CSCO), Sun Microsystems (Nasdaq:SUNW), and EMC Corporation (NYSE:EMC).

The firm hopes to commence sales during 2003, by which time it expects the global telecoms market to recover ¿ making this "the perfect time for creating a company that will provide a breakthrough technology for the next generation of computer and telecom equipment", chief executive Goroshevsky says.

The company, registered in Delaware, plans to relocate its headquarters to Sophia Antipolis, a technology center near Nice, France, where most of its 20 employees are located. It also employs four people in Israel.