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March 4, 2009

VC Firm Starfish Ventures Leads $6 Million in Series A funding for Ofidium�s New Technology

Australia based Ofidium secures $6 million in Series A funding from Starfish Ventures and Monash University to finance the company�s new technology that would provide 100 GB second per second telecommunications.��� Ofidium is a telecommunications company that develops technologies to allow telecommunications services increase their band width.�� Ofidium�s new OFDM technology provides 100 GB per second speed for files with large bandwidth.�� The Melbourne based company had announced that the funding will go to commercializing the new OFDM technology.� According to Ofidium�s CEO, Jonathan Lacey, the challenge that most telecommunication companies face is to support the continually growing demand of bandwidth throughout the network without the cost rising up through the roof.� Ofidium�s new OFDM technology can provide the solution to this challenge.��

OFDM is the abbreviation of Ofidium�s Orthogonal Frequency Division Multiplexing.� This technology basically allows the user to download files of higher band width at a much lower cost by providing a very cost efficient capacity growth for a new optical fiber and amazing performance improvement for existing telecommunication infrastructures.�

Ofidium�s new OFDM technology was pioneered by two professors from Monash University in Australia.� Professor Jean Armstrong and Arthur Lowrey have led the innovation of optical technology.� Professor Lowery is also Ofidium�s cofounder and current CTO.�� The company also continues to have a close relationship with Monash University.

According to Prof. Edwina Cronish, Monash University�s vice chancellor, optical OFDM technology will effect the telecommunications industry globally and Monash University is proud to support the company in developing this research and bringing it to market.� Furthermore, Michael Panaccio, Investment Principal of Starfish Ventures states that Ofidium�s optical OFDM technology is a major step forward in the technology industry.� The application of Ofidium�s product will revolutionize the way that the telecommunications industry will increase their bandwidth.�

Starfish Ventures is a vc firm that is based in Australia and focuses on investing in companies in the technology industry.� Starfish was established in 2001 and manages $400 million in funds.� Starfish invests in emerging companies which have a product idea that shows great promise and has the potential to provide higher yields in the marketplace.� Since its establishment, Starfish Ventures has invested in over 35 companies including Fifth Finger, Aruspex, Audinate, Austhink, Distra, Engana, G2 Microsystems, Holly Connects, and iCiX to name a few.

Monash University is Australia�s largest university and was established over 50 years ago.� Monash University houses over 58,000 students and has over six campuses in Australia and has international campuses in Malaysia and South Africa.� Monash University�s main curriculum is technological innovation and research.� Furthermore, Monash University�s research and innovations become developed and commercialized in the marketplace.� The university itself has come out of over ten different tech companies and particularly focuses on life sciences, advanced materials, and telecommunications.

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