BTI Photonics scores in 4th round

Ottawa-based BTI Photonics Systems raises US$12 million in its series D funding round. The wireless networking equipment maker will use the money to add new global channel partners, bolster sales and BTI%20Photonics.JPGmarketing, and to further develop its Netstender microWDM platform. The investment round was led by an unnamed private equity investor from Boston and included existing backers Vengrowth, BDC Venture Capital and GrowthWorks Capital. With a growing demand for wireless networking equipment to support high-bandwidth video and mobile Internet services, BTI’s customers have increased to more than 70 from around 45 at the end of last year. The company expects to add another 20 staff this year, bringing it’s workforce to almost 100 employees.

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