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Continuum Photonics gets $3M equipment financing from GE
by Jeff Miller
Continuum Photonics Inc., a Billerica-based optical subsystems and components maker for the telecommunications industry, has closed on $3 million in equipment financing and has added $300,000 to its series B equity financing.
Continuum will use the financing to purchase equipment for research and development.
Technology Finance, a business unit of GE Structured Finance, provided Continuum with the equipment financing as well as the $300,000 equity investment.
"After we closed on our B round, we had all kinds of companies calling us up about financing," said Joe Golemme, chief financial officer at Continuum. "This from GE really helps stretch the equity from the B round."
Continuum announced in July that it had raised more than $14 million in a B round of financing from Flagship Ventures, Prism Venture Partners, Harris & Harris, Massachusetts Technology Development Corp. (MTDC), Gainesborough LLC, Arcadian Capital Management and individual investors.
Source: Mass High Tech, 12/10/2002
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