Redfern Integrated Optics, a developer and manufacturer of high-performance optical transmitters for communications, said it has raised an additional $7 million from TMT Ventures, Tallwood Venture Capital and Jolimont Capital.

This is another one of the multiple companies founded during the telecom bubble year of 2000. It has raised about $32 million, and somehow has survived the downturn.

The company cites a recent report from CIR, a market research and consulting firm, which says the market for Redfern 10-Gbps and 40-Gbps optical modules (used in telecommunications and data communications equipment) will grow from $880 million in 2006, to $4.2 billion by 2011.

This is still a very tough area to compete in, but maybe Redfern can pull something off after all.