Hyperchip raises $70 million to commercialize carrier-class core router
January 18, 2002--Hyperchip Inc., the Petabit routing company, announced today that is has secured $70 million in its fourth round of financing, bringing the total amount raised to $220 million.
Hyperchip Inc., the Petabit routing company, announced today that is has secured $70 million in its fourth round of financing, bringing the total amount raised to $220 million. Lead investor TechnoCap was joined by Vertex Technology Fund, Advent International, Optical Capital Group, JT Ventures, Artémis and Pilgrim Baxter. This round includes a $50-million loan from Investissement-Québec.
The new funding strengthens Hyperchip as the company continues trials with international carriers and prepares to commercialize its carrier-class core router that scales from tens to millions of gigabits per second of capacity, claim company representatives.
"Our new funding gives us the financial support required to bring our innovative solution to market," explains Brian Barry, Hyperchip's Chief Executive Officer. "Carriers around the world are telling us that they are experiencing significant growth of their Internet traffic, and that they are looking for a new breed of high-performance core router that can cost effectively grow with their networks," he adds. "They also want core routers that offer the performance, reliability and flexibility of their legacy carrier-class circuit switches so they can generate new revenues from their IP networks by improving the quality and diversity of their service offerings."
For more information about Hyperchip (Montreal and Dulles, VA), visit the company's Web site at www.hyperchip.com.