To fund ongoing Ethernet over Copper demand in both the European and U.S. markets, Actelis Networks announced it has completed a multi-million funding round with its major investors. Although the company did not reveal the investment amount, Actelis said it will leverage the new funds to support ongoing growth and new deployments of its Ethernet in the First Mile products by not only service providers, but also education, health care IT and even government municipalities that are leveraging the company's gear for Intelligent Transportation System deployments. Not surprisingly, Actelis said it will use part of the funding to assist its customers in taking advantage of the Obama Administration's American Recovery and Reinvestment Act (ARRA).
Participating in this latest funding round were Actelis' existing vendors, including Adams Street Partners, ATA Ventures, Argonaut Ventures, Carlyle Venture Partners, Dupont Capital Management, Global Catalyst Partners, Individual's Venture Fund, Saints Capital, smac partners, T-Venture, Vertex Venture Capital and The Walden International Investment Group.
Despite the poor economy, Actelis continues to rack up customer wins in both Europe and the U.S. In the U.S., Actelis has recently won deals with a number of unnamed Tier 1 and Tier 2 ILECs, in addition to supplying its gear to the City of Sacramento and San Jose for Intelligent Traffic System (ITS) deployments.
Actelis' focus on Europe continues to pay off as the vendor recently secured deals with a number of CLECs and some large incumbent service providers, including NetCologne, Telekom Slovenije and France Telecom-Orange. Europe poses a challenge for service providers launching Ethernet over Copper. Potential interference issues with existing DSL services have required European providers to limit their Ethernet over Copper speeds. However, Actelis argues that its Etherplus technology can mitigate any interference issues that could occur in a copper bundle being used for DSL and Ethernet over Copper services.
"The additional funding round is extremely important to maintain Actelis' strong financial position, further fueling the company's momentum in the domestic and international marketplaces," said Tuvia Barlev, president, CEO and co-founder of Actelis said in a release. "Carrier Ethernet is the fastest growing market in telecom, and the explosive demand for Actelis' EFM solutions is presenting a wealth of opportunities for the company."
For more:
- see the release here
Related articles
Actelis receives RUS listing for new EoC products
Rapid investment returns fuel Ethernet over Copper growth