IRVINE, Calif., Aug. 28, 2006 (PRIMEZONE) -- Lumexis Corporation, the technology company that created the Fiber-To-The-Seat(tm) (FTTS(tm)) In-Flight Entertainment System, today announced the closing of a Series B venture funding round led by Zone Ventures, a leading early stage venture capital firm. Monitor Ventures and angel investors have also participated in this round.
Lumexis Corporation develops and sells In-Flight Entertainment systems based on its proprietary FTTS(tm) architecture, a fiber-optic enabled video and data distribution network for aircraft cabins that provides unprecedented Gigabit-per-second bandwidth to each passenger screen. Installed with no electronic boxes under the seat or elsewhere in the cabin, this unique product promises entertainment options which have never before been possible (e.g. individualized video streams for movies or TV, seat-to-seat video-conferencing, multi-passenger video games, access to office productivity applications and Internet access) at a fraction of the weight and cost of existing systems.
"We're pleased to have Zone Ventures on board as our lead investor for this important funding round and are excited about the expertise that the firm brings to our company," said J. Douglas Cline, CEO and Founder of Lumexis Corporation. "Based on the positive feedback received during our ongoing discussions with the major airlines around the world, we feel confident that the technological and cost advantages provided by Lumexis FTTS(tm) systems will enable airlines to improve profitability while simultaneously offering premium entertainment to their passengers. By closing this round of funding we assure continued momentum in our advanced discussions with potential customers and accelerate the development and certification of Lumexis systems."
"The Lumexis team has developed a ground-breaking approach for delivering video, Internet access, and interactive communication services to airline travelers at their seats, while simultaneously reducing the overall fixed and operating costs. We believe Lumexis' solution will enable airlines to offer revenue-generating services in the cabin, transforming In-Flight Entertainment into a profit center from what typically is a loss leader," said Paulo de Rezende, partner of Zone Ventures.
About Lumexis
Lumexis Corporation develops and sells In-Flight Entertainment systems based on its proprietary FTTS(tm) architecture, a fiber-optic enabled video and data distribution network for aircraft cabins that is less than half the cost and half the weight of existing competing systems, and eliminates all under-seat electronic boxes. The system is the result of nearly three years of R&D work springing from proprietary aerospace optics technologies. The company is headed by two well-known airline entertainment industry veterans, J. Douglas Cline, former President of Sony Trans Com, now Lumexis' CEO, and Richard J. Salter, co-founder of AirShow, now CTO of Lumexis.