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ORIGIX Raises $4.2M to Wire Downtown

MINNEAPOLIS-The firm will light the major buildings by connecting them to an optical fiber ring, which will also provide off-site data storage for the tenants there. Funding is obtained in spite of a tough equity market for those in the industry.

By Jim McCartney | Updated on May 09, 2002

MINNEAPOLIS-ORIGIX Corp., a metro optical network service provider, recently says it has raised $4.2 million in Series B funding, which will enable it to roll out the first phase of its optical services deployment in Minneapolis. In its initial rollout, ORIGIX will “light” major buildings in Downtown Minneapolis by connecting them to its optical fiber ring–the first non-SONET fiber ring in the city.

The investment will enable the firm to deliver Gigabit Ethernet (Gig E) data communications networking, high-speed Internet access and on-net data storage services. This Gig E technology allows near-instantaneous network and Internet access from 1 megabit to gigabit speeds.

Des Moines, IA-based Equity Dynamics, which invested in ORIGIX previously, led the new funding round. The round also included investments from Riverstone Networks Inc., Principal Financial Group Inc., Gainsborough Investments and private investors.

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