Cleveland, OH, April 7, 2021. COTSWORKS, INC., a manufacturer of rugged optical components and subsystems for harsh environments, announces an investment from Phoenix Venture Partners LLC (PVP). Based in San Mateo, CA, and Seattle, WA, PVP invests in companies designing, developing, and manufacturing advanced materials-enabled and device innovations worldwide.
The co-founder and General Partner of PVP is Dr. Frank Levinson, previous co-founder, Chief Technology Officer, and Chairman of Finisar Corporation (NASDAQ: FNSR) which became the largest supplier of optical components during his tenure. “COTSWORKS has established a leadership role in the rugged optical transceiver and cable marketplace” commented Levinson. “We are excited to participate in the growth opportunities and valuable solutions that COTSWORKS can offer to Aerospace, Industrial, and Military companies looking for fiber optic network help.”
Ken Applebaum, Founder and CEO of COTSWORKS adds, “Phoenix Venture Partners brings an exceptional track record of supporting small innovative companies with business development, customer and supply chain partnerships, and operational support.” This additional strategic support will help COTSWORKS move into its next phase of growth and “help us secure a stable supply chain of optical components and materials to guarantee that our OEM customers can depend on our products for many years to come,” adds Applebaum.
As a part of this partnership, COTSWORKS converted from a Limited Liability Corporation to a “C” Corporation, incorporated in the state of Delaware, USA. COTSWORKS GmbH will continue to operate from Fulda, Germany serving the EMEA marketplace. Corporate headquarters and operations will remain in Cleveland, OH where FORCE, a Fiber Optic Center of Excellence, is currently under construction with grant support through the State of Ohio’s “JobsOhio Research & Development Center” initiative.
COTSWORKS, INC. conducts business on two continents with representatives around the world supporting the design and manufacture of rugged optical components and subsystems which operate in harsh environments. Products are utilized worldwide in commercial and military aerospace, military tactical, oil and gas, and other industrial markets. Headquartered in Cleveland, OH, the company was founded in 2006 and supports the Americas and Asia, while COTSWORKS GmbH, located in Fulda Germany, supports Europe and the Middle East. Over 100,000 mission-critical rugged opto-electronic and interconnect products are produced each year in our state-of-the-art manufacturing facility. The company maintains a quality program with ISO 9100:2015 + AS9100D Certification and ATEX compliance.
About Phoenix Venture Partners
Phoenix Venture Partners (PVP) invests in start-up teams and established organizations developing breakthrough advanced materials and device innovations. Their investment strategy is predicated on assisting entrepreneurs with customer and supply chain business development and providing strategic and operational support.
PVP enjoys valuable strategic relationships with a diversified consortium of industry-leading corporations. Their Strategic Partners, several of which have also elected to be Strategic Limited Partners in one or more of their Funds, have a combined market capitalization exceeding $380 billion and represent complementary industry verticals, value chain positions, and geographic concentrations. These partnerships help define key industry needs and market opportunities. PVP’s portfolio companies enjoy access to this deep set of potential customer and supply chain partner relationships.