SiNett Corporation secures $15 million in series B funding

June 14, 2004

1 Min Read

SUNNYVALE, Calif. -– SiNett Corporation, a developer ofgroundbreaking wireless local area network (WLAN) packet processing siliconand software, today announced it has raised $15 million in Series B funding. Theround was led by Clearstone Ventures and includes previous investors MatrixPartners and Alliance Ventures. The financing will be used primarily for researchand development, expanded marketing and sales initiatives and to fundexpanded operations in its offices in California and Bangalore, India.SiNett was formed in September 2002 by Shiri Kadambi, Shekhar Ambe andShrikant Sathe. The company is developing leading edge, packet processingsilicon and software for network equipment OEMs targeting seamless wirelessaccess in the enterprise. Kadambi and Ambe previously founded MaverickNetworks, later acquired by Broadcom, and architected the highly successfulStrataSwitch family of enterprise switching devices.

"The strong interest we’ve seen from potential customers, the quality of ourinvestors, and the significant amount of capital we have raised in a challengingventure climate all clearly signify the industry’s support for our market andproduct vision," said Shiri Kadambi, co-founder and CEO of SiNett Corporation."With enterprises showing a tremendous amount of interest in wireless networks,there is an urgent need to develop infrastructure products that seamlesslyintegrate WLANs with wired networks. We have the resources and theexperience to provide the silicon foundation for those products."

SiNett Corp.

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