SEPTEMBER 19, 2007 -- California-based chip supplier Teknovus (search for Teknovus) has secured $28 million in equity financing. The company reports "significant demand for the round by new and existing investors," including lead investor Lightspeed Venture Partners and the Galleon Crossover Fund, a Galleon Group fund. Other new investors are from Teknovus's leading Asian markets, including Vision Venture Capital from Taiwan and Technology Alliance Investment and Itochu Technology Ventures from Japan. Existing investors USVP, Partech, Focus, Samsung, and Mitsubishi also participated.
"EPON is a rapidly growing market and Teknovus's position as the leading independent player matches our profile for growth equity investments," says Jake Seid, general partner of Lightspeed Venture Partners. "Fiber is an end-game solution, not a stop-gap one and the Teknovus solution brings innovative services to consumers and businesses and increased revenue to carriers."
"Teknovus has developed a winning combination of technologies and products, customers, management team, and strategies to be the leading global fiber access chip vendor," adds Hans Schwarz, managing director at Galleon. "Teknovus is clearly demonstrating its fiber solution leadership with accelerating demand in Japan, Korea, and China, as well as other parts of Asia and the U.S. cable industry."
The company plans to use the funding to accelerate its roadmap, including 10-Gbit EPON, and to expand marketing, sales, and support close to customer deployments. Teknovus chips and software enable IPTV-based triple-play services on fully loaded 1x64 PONs, without resorting to RF overlay. The architecture is designed to support carrier-grade quality of service at Ethernet price points, enabling guaranteed service-level agreements for each customer, service and traffic flow.
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