Tibit Communications, Inc., known for its MicroPlug pluggable PON optical line terminals (OLTs), says it has raised $30 million in Series C funding. The money will go towards increasing manufacturing capacity for its 10G PON devices as well as development of a 25G PON version.
The round includes current investors Liberty Global (LGI), Swisscom Ventures, Intel Capital, Ciena, Juniper Networks, and Solasta Ventures.
The company has found success supplying MicroPlugs in an SFP+ form factor on an OEM basis to router manufacturers and others looking to enhance the applicability of their platforms for access network aggregation (see, for example, “Technetix adds 10G-PON pluggable OLT to DBx access platform” and "Ciena: Universal Aggregation and Access over 10G PON Transceiver"). The pluggable OLTs leverage the company’s ASIC and hardware expertise, with 10G PON the current top end. However, Tibit has joined the 25GS-PON MSA and has targeted development of a new generation of ASIC for that transmission rate.
"Tibit has been well positioned to take advantage of the tailwinds from operators investing in 10G PON fiber deployments, which have led to incredible momentum for the company in the marketplace and strong investor support. This funding will enable us to grow our 10G manufacturing capabilities and develop an innovative 25G solution," commented Richard Stanfield, president and CEO of Tibit.
"Liberty Global values suppliers that innovate core intellectual property to network services," added Colin Buechner, chief network officer at Liberty Global. "Tibit has proven an ability to deliver a new ASIC and HW design in the 10-Gbps MicroPlug OLT, which has been tested through a lengthy deployment in LGI's UK network. We welcome, and are proud to support, their continued innovation at the 25-Gbps PON speed."
The company raised $25 million in Series B funding in 2019 via a pair of tranches (see “Tibit Communications attracts $20 million in Series B funding for pluggable PON devices” and “Tibit closes $25 million Series B funding round”).
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