Transmode Systems, Stockholm, has secured third-round funding of EUR9m, led by existing investors Amadeus Capital Partners and European Equity Partners (EEP).
The company says it is experiencing strong sales growth of its CWDM system, which it has been shipping since March 2001. CWDM is gradually gaining acceptance as a low-cost and efficient alternative to DWDM.
“Customers are turning to Transmode because we have a product that satisfies their requirement for low whole-life costs, scalability and transparency,” says CEO Isaac Olasoko.
“We are going to add new features to our product and be more aggressive in pursuing CWDM opportunities,” he adds. The new funding will also be used to expand the global sales organisation.
Transmode last month announced that it has strengthened its position on the American market by appointing Jim Lang as VP Sales, USA.
The company says it is now in a phase where the product is commercially available and has been installed in a large number of networks worldwide.