Tuesday, October 14, 2008

Mintera snags $8M line of credit facility

By Mass High Tech Staff

Acton-based Mintera Corp., which develops optical-networking equipment, has received a revolving line of credit facility, worth $8 million, from Silicon Valley Bank. The credit will support the company’s working operations and growth of its 40 Gbps Adaptive-DPSK DWDM modules.

The modules, which are intended for long-haul optical networking, can operate with 50 GHz signal spacing through Reconfigurable Add/Drop Multiplexers (ROADMs).

Last October, Mintera took in $19 million in venture capital in a round co-led by investors Polaris Venture Partners of Waltham and RRE Ventures of New York. Existing investors, including Court Square Ventures, Star Ventures and Portview Communications Partners, participated in the round. The financing raised the total amount of venture capital invested in Mintera at the time to more than $73 million, according to company executives.

The company, founded in 2000, shipped its first overseas product in February 2007 with its 40 Gbps DWDM transport subsystem to be used by an unnamed Asia-Pacific systems company.