Nisko's Optics Networks raises $5.6m at $31 million value - TheStreet

Nisko Industries (TASE:NSKO) is strengthening its strategic relationship with Connecticut-based TranSwitch Corporation. TheMarker learned the American company took part in a recent funding round held by Optics Networks, a developer of semiconductors for the rapid optic communications sector.

Optics Networks, in which Nisko had a fully diluted stake of 27%, raised $5.6 million according to a $31 million valuation. Other VC funds took part in the round, one of which was Neurone Ventures, in which Nisko holds 21.5%.

Haim Moshe, founder and CEO of Optics Networks, said the success of the round at a time like this indicated investors' faith in the company. The money will further the development of the first family of components and help take them to market in the near future.

Optics Networks, founded in Q1 2000, provides VLSI solutions that offer flexible support to the market of broadband optical infrastructures.