Crosslayer Gets $6 Million

First-round financing led by Alliance Ventures IV

August 13, 2001

1 Min Read

FREMONT, Calif. -- Crosslayer Networks Inc., a developer of advanced silicon solutions for next-generation metropolitan and enterprise networks, today announced the closing of a $6 million Series A equity investment. The lead participant in this first-round financing was Alliance Ventures IV, a limited partnership investment fund that invests in emerging companies in the semiconductor market areas. This financing will allow Crosslayer to expand its design and research-and-development capabilities, and to add to its operations and customer support infrastructure. Also participating in the investment round were AmidZad, LLC, Crescent Venture Investors, Solar Venture Partners, LP, Galaxy Venture Partners LLC, and a number of individual investors. AmidZad is a private venture capital firm, with an affiliated network of investors, that provides capital and value-added services to high-technology startups. Crescent is a private investment firm that focuses on software, communications and semiconductors. "We're very excited about closing our first equity investment round, and about the caliber of the investors," said Ahmad Esmaeili, president and CEO of Crosslayer. "We feel that this is an endorsement of our strategy and corporate direction, which is to focus on addressing the needs of system vendors providing next-generation switches and routers to the enterprise and metropolitan area network markets." Crosslayer Networks Inc.

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