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Andover optical networking company Polatis Inc. has landed $2.7 million in new funds to help it develop new products in the data center interconnect, carrier and government markets.
According to a release from Polatis, the new funding came from the company’s existing investors, which include Flagship Ventures, JK&B Capital, DFJ Esprit, Encore Ventures, Alta-Berkeley Ventures, Massachusetts Technology Development Corporation, Prism VentureWorks and Gainesborough Investments. In addition to product development, Polatis said it would use the funding to “further ramp inhouse manufacturing capability, and expand business development resources worldwide.”
Polatis last raised funds in 2009, when it brought in $8 million in its second round of venture funding and added CEO Gerald Wesel and senior advisor Niel Ransom to its board of directors. To date the company has raised at least $16 million in funding.
In addition to its Andover headquarters, Polatis also has an overseas HQ in Cambridge, UK, from the 2005 merger of Billerica-based optical components maker Continuum Photonics Inc. with British optical switch maker Polatis Ltd. The company came together with the aim of developing an all-optical switch for the transport layer of networks that will help enterprise and telecommunications network managers shift from copper to all-fiber networks. Polatis said in the new release that it now has shipped more than 1,000 systems to end users and network equipment manufacturers worldwide.
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