The financing, which was confirmed for GlobeSt.com by a representative from IntelCore, is a real coup for the startup, which is housed at Boston University, as the market for fiber-optic companies has been hard hit recently by the high-tech bust. This investment, led by Tudor Ventures Group, includes investments from Technology Venture Partners, St. Paul Venture Capital and Megunticook Management, bringing IntelCore's total financing to $30 million. The two-year-old company attracted a first round of five million dollars from Megunticook, Beacon Telco, and private investors last year.
The facility will be on the Route 495 technology belt and is scheduled for completion in the fourth quarter of 2001. The new building, which will accommodate over 100 employees, will house multiple glass fabrication systems, fiber production towers, and product development and qualification labs. Reportedly, the company would like to eventually expand the facility to 100,000 square feet if demand for its products grows.
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