Parama Networks Closes $7M RoundParama Networks Closes $7M Round

Fabless semiconducter company has raised $7M in its Series B round of funding led by Menlo Ventures

February 11, 2004

1 Min Read

SANTA CLARA, Calif. -- Parama Networks today announced the close of a $7M Series B round of funding, led by Menlo Ventures and completed by the other current investors: Azure Capital Partners, Cross Bridge Ventures, Network Angel Capital and Sprout Group.

“This round should take us close to the breakeven or cash-flow positive point,” said Hemant Bheda, CEO of Parama Networks. “With the launch of our first product earlier this month and the design cycle associated with it, we should begin realizing revenues in 3Q 2004. We already have a design win with a large vendor of telecommunications equipment and hope to announce that and three other customers by the end of 2004.”

“Parama is one of the better investment opportunities in the world of telecom start ups and we are pleased to provide them our continued support,” said Hal Calhoun, Managing Director, Menlo Ventures and a member of the Parama Networks Board of Directors. “Their product is solid and right for the times. Carriers and equipment vendors are looking for cost-effective and efficient ways to evolve the telecommunications infrastructure in order to handle the burgeoning growth of data services, and the ADM-on-a-Chip addresses this critical need.”

Parama Networks will demonstrate data transport over SONET/SDH networks and other advanced capabilities of this ADM-on-a-Chip in Los Angeles February 24 – 25, 2004, at the New Otani Hotel, located two miles from the L.A. Convention Center, site of the OFC 2004 Conference and Exhibition.

Parama Networks Inc.

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