AOptix Closes $42 Million Series E Funding
CAMPBELL, CA, Technology innovation company applying optics to transform identity verification and wireless communications, today announced that it has closed a $42 million Series E round of funding.
AOptix (www.aoptix.com), a technology innovation company applying optics to transform identity verification and wireless communications, today announced that it has closed a $42 million Series E round of funding. This brings the total investment in the company to date to $123 million. All of the company's existing investors -- Clearstone Venture Partners, DAG Ventures, Kleiner Perkins Caufield & Byers, Northgate Capital and W Capital Partners -- participated in the round and were joined by a new investor, True Ventures. The proceeds will be used to support product development, sales and marketing as the company prepares to launch groundbreaking new products.
"As an investment strategy, I look for companies that are applying technology to positively impact people's lives on a global scale," said Kevin Compton, partner, Kleiner Perkins Caufield and Byers. "AOptix is doing just that - solving problems no one else can through a rare combination of imagination, technology expertise and an experienced management team that knows how to execute."
AOptix's founders originally invented adaptive optics technologies to help astronomers see farther into space, spurring significant scientific discoveries. Leveraging the same underlying technologies and expertise, AOptix later worked with DARPA and the U.S. military to develop advanced mobile wireless networks for high speed air-to-ground and air-to-air communications.
AOptix continues to build on its core technologies by bringing solutions to market that help people be safe and connected across a range of commercial applications. It provides solutions for rapid, accurate, automated identity verification using iris recognition and a range of other biometric techniques for aviation security and immigration control. For example, the AOptix identity verification solution is already being used in locations such as Gatwick Airport in London and all the air, land and sea border crossings in Qatar. AOptix also has solutions for reliable, long-range, ultra-high bandwidth wireless communications for mobile backhaul and enterprise applications - a combination of capabilities no one has been able to achieve before.
"We're seeing strong traction in the market with our current solutions because we're able to effectively solve difficult technological and business problems that have broad impact on people, such as passenger congestion at international airports or bandwidth constraints on mobile networks," said Dean Senner, Chairman and CEO of AOptix. "As we continue to grow and innovate, we're pleased with the strong support of our investors who recognize the tremendous opportunities ahead."
AOptix Technologies Inc. is helping the world stay safe and connected with its identity verification and wireless communications solutions. Through the combination of iris recognition and other biometrics techniques, the company's identity solutions deliver fast, easy and accurate identification and verification for a wide range of applications including automated boarding and immigration at airports and international borders. Its communications solutions deliver reliable, long-range, ultra-high bandwidth wireless communications to alleviate mobile backhaul congestion and other network chokepoints. Its solutions are derived from the company's patented optical technologies originally developed for scientific research and further developed with DARPA for advanced defense applications. AOptix is a privately held company based in Campbell, Calif., with sales offices in Washington D.C. as well as Europe, the Middle East and Southeast Asia. http://www.aoptix.com
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