BTI Photonics receives $9.5 million in financing

Ottawa's BTI Photonics Inc has received $9.5 million from a consortium of venture capital firms to accelerate its transition from a developer of fiber-optic test equipment to optical modules and components for the dense wave division multiplexing (DWDM) market. The financing is being provided by BCE Capital, Lucent Venture Partners, Primaxis Technology Ventures, Kodiak Venture Partners and Purple Angel, an angel group composed mostly of former Nortel executives. Primaxis remains the largest single investor in BTI, having injected $2.5 million into the firm last April in conjunction with Kodiak....