Xponent Photonics Raises $23 Million

Xponent Photonics Inc., a Monrovia, Calif.-based maker of surface mount photonic products, has raised $23 million in Series 3 funding. American River Ventures led the deal, and was joined by return backers Arcturus Capital, Eastward Capital, El Dorado Ventures, HOYA Holdings, Samsung, US Venture Partners and Walden International. Xponent has raised over $90 million in total VC funding since 2000, including a May 2006 infusion at a post-money valuation of approximately $47.7 million. www.xponentinc.com