High-tech Start-up Secures $32 Million in Second Round Financing

Qtera Corp. (Boca Raton, FL) closed its second round of financing, resulting in $32 million and bringing the company's total financing to $43 million.

High-tech venture capital firm Mayfield Fund led the round with a $9 million investment. Additional equity participants include Oak Investment Partners; Battery Ventures, which provided the first round equity funding in August 1998; VantagePoint Venture Partners; and CommVest.

Qtera develops ultra-long-reach photonic transport systems for telecommunications service providers.