Aktino Snags $16M
IRVINE, Calif. -- Aktino, the first company to implement MIMO techniques on DMT-based copper access platforms to enable long-reach, high-bandwidth service on embedded copper loops, today announced the completion of its oversubscribed series-B funding round, totaling $16 million.
The Series B round was led by new investor Innocal Venture Capital and included Silver Creek Ventures, three other new investors, and all of Aktino’s Series A investors. Aktino’s Series A investors included Foundation Capital, CrossPoint Venture Partners, and Miramar Venture Partners. Joining them in the Series B round in addition to InnoCal Venture Capital and Silver Creek Ventures are Shea Ventures, Ventana Capital Management and Huntington Ventures.
“Aktino is emerging as the leader in the fast growing business broadband segment of the market,” commented Dan Bassett, managing director of InnoCal Venture Capital. “We were repeatedly impressed with the progress Aktino has made since their inception. It’s nearly unheard of for a startup to deliver a GA (general availability) product, secure numerous customers, and enter into multiple major Telco labs in just two years. We are looking forward to supporting Aktino as they continue to emerge as the established leader in the business broadband over copper market.”