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Reflex
Photonics Inc. closes Series A equity financing to support
its accelerating momentum
Company relocates
business operations to Silicon Valley from Montreal
Redwood City, California – October 10,
2007- Reflex Photonics, an advanced developer of extreme high
speed, Light on Board™ connectivity solutions
for semiconductor packaging and data transfer applications,
today announced the closure of a $3 Million dollar Series
A financing round to support the launch of its InterBOARD™
product lines.
“Our Series A equity financing was co-led by our new
venture investor FIER Succes and our existing investor MSBi
Capital, with participation from RESO Investments. The closing
of this Series A institutional round allows us to continue
to leverage the growing momentum in our marketplace by expanding
our sales, marketing and customer support activities while
continuing to grow our technology development and commercialization
teams. In conjunction with this financing round, the Company
has named to its board of directors industry experienced entrepreneur
Noël Dube, currently General Partner at FIER Succes and
ex-Vice-President Industrial at R/D Tech.” stated Gary
Moskovitz, President and CEO.
The company also announced that it has now moved, and in
the midst of expanding, its business operations from Montreal,
Quebec to the “Silicon Valley” to further leverage
its existing successes there and take full advantage of the
potential in the San Francisco Bay area. “We have been
working with Fortune 500 companies there for some time and
wanted more-focused access to potential customers, strategic
partners and top talent to augment all of our business operations
there.” added Moskovitz.
“As its initial venture capital investor, we have and
continue to be very strong supporters of Reflex Photonics
and tremendously impressed by their many achievements to date.
They have leveraged quite modest resources into an amazingly
strong and proprietary technology base which delivers very
meaningful solutions in both commercial and consumer markets.
Optical interconnectivity is expected to be a billion dollar
market space and we are thrilled to be working with one of
the most dynamic teams in this developing industry.”
stated Chris Arsenault, partner at MSBi Capital.
“We are very excited about Reflex Photonics’
position in the marketplace and their continuing abilities
to execute their plans in a timely fashion with a great team.
We are happy to be contributing fuel and additional industry
experience in support of their LightABLE™ engine solutions.”
noted Noel Dube, general partner at FIER Succes.
Moustafa Magar, Managing Director of Reso Investments, also
added, “We are indeed excited about this new round and
about the potential of Reflex. The Reflex team possesses all
the ingredients needed to implement and successfully execute
their business plan. They are focused, visionary and ‘make
it happen’ types of professionals. We are proud to have
Reflex in our portfolio.”
About Reflex Photonics
Reflex Photonics is an advanced developer of extreme high
speed (40 Gb/s to 1000 Gb/s), Light on BoardTM connectivity
solutions for semiconductor packaging and data transfer applications.
Through the integration of its uniquely innovative and proprietary
LightABLETM technology, the company is focused on intra and
inter printed circuit board (PCB) applications ranging in
distance from 1 inch to 1000 feet, supporting all physical
layer protocols. Reflex Photonics’ products feature
its core LightABLE™ optical engine technology which
offers significant improvements in the structure and packaging
of the components that deal with electrical-to-light conversion
and vice versa. Its optical sub-assembly is based on a unique
low cost, low profile, passive optical assembly process whose
modular construction allows for volume manufacturing, superior
performance and much higher reliability as compared to existing
technology implementations. Reflex Photonics products address
the growing demand for high-speed interconnects in enterprise-class
storage/server infrastructure resources and telecom-class
switches/routers. The company’s products enable equipment
developers to design lower cost/price, smaller size, and lower
powered systems incorporating higher fidelity/ultra fast connectivity-
all translating into lower end user costs of ownership and
faster/less costly installations. Founded in 2002, Reflex
Photonics, privately-held and operating both in Redwood Shores,
California and Montreal, Quebec. For more information please
visit www.reflexphotonics.com.
InterBOARD™, LightABLE™, Light on Board™,
Reflex Photonics and the Reflex Photonics logo are trademarks
of Reflex Photonics Inc.
About MSBi Capital
MSBi Capital manages seed and early-stage venture capital
funds and helps entrepreneurs and innovators build successful
companies in the sectors of information technology, life sciences
and cleantech. MSBi Capital's value-added approach to early-stage
investing provides portfolio companies with capital, unique
access to intellectual property from its partner academic
institutions and an extensive network of industry partners,
advisors and sector-specific co-investors. MSBi’s first
fund, MSBi LP, is a $46-million seed and early-stage venture
capital fund focused on commercializing innovations in information
technology, life sciences and the physical sciences, based
predominantly on innovative technologies originating from
universities of McGill, Sherbrooke and Bishop's, as well as
their affiliated hospitals and research institutes. For more
information see www.msbi.ca.
About FIER Succes
FIER Succes is a regional Quebec, Canada economic investment
fund (FIER) initiated with the support of the Quebec government.
The main objective of FIER Succes with its partner Investment
Québec is to invest in businesses to promote the emergence
of new companies and to support the growth within these companies.
FIER Succes’ initial fifteen million dollar fund is
primarily focused into investments in the Québec City,
Charlevoix and Portneuf regions of the province of Quebec.
FIER Succes is proud of its board of directors, composed of
ten administrators with broad expertise in financing, company
management, intellectual property, commercialization, technology
and international investment. FIER Succes’ general manager,
François Gilbert, is proud to announce investments
in more than 13 companies since the commencement of the initial
fund in October 2005.
About Reso Investments
Reso Investments Inc. is an investment fund dedicated to
the development of Montreal, Quebec's southwest region. This
venture capital fund was created jointly by the Corporation
for the Economic Revitalization of the Southwest (Reso) and
by the Fonds de solidarité (FTQ) in 1995. Reso’s
contribution to the fund's capital is financed by the federal
and provincial governments. Reso is an active partner. In
addition to financial assistance, it brings to bear all of
its strategic development expertise in support of its business
associates. Reso Investments' mission is to provide the southwest
Montreal region with the building blocks it needs to ensure
economic growth and create long-term employment. For more
information please visit www.resoinvest.com.
Press Contacts
Reflex Photonics Inc.
Gary Moskovitz
President and Chief Executive Officer
gmoskovitz@reflexphotonics.com
Tel: (650) 632-4557
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