Wednesday, October 11, 2006
LightPointe Revamps, Restarts
San Diego-based LightPointe Communications has hired back its core team, raised funding, and is in the process of reorganizing the company and revamping its business model, according to Cathal OScolai, the firm's general manager. OScolai confirmed the firm's funding by Exa Ventures and West Coast Venture Capital, and said that the company has sized the company appropriately for the market. The firm is now targeting developing countries which are using free space optics to leapfrog wired infrastructure, and is selling its products globally with distribution partners in Europe, Australia, and Southwest Asia. The revamped company now has between 15 and 20 employees, down from an original 60 at the firm before it started looking for a buyer or new investor in May. OScolai said the firm was placed into Chapter 11 in July, and is looking to re-emerge from Chapter 11 with a sound financial footing and to continue to build product. The firm's manufacturing operations have been restarted in San Diego, with all manufacturing now being done locally.