Tejas Networks Raises $15M

Tejas Networks, developer of next-generation Sonet/SDH products in India, completes $15M Series C funding round

January 6, 2005

2 Min Read

BANGALORE, India -- Tejas Networks, a leader in next-generation SDH/SONET products, today announced that it has completed a $15 million Series C round of financing led by Battery Ventures, a top-tier venture capital firm focused on investing in technology companies at all stages of growth. Existing investors Dr. Gururaj “Desh” Deshpande, Intel Capital and IL&FS Investment Manager also participated in the round.

The company will use proceeds of the financing to expand its operational functions as well as grow its international presence through sales partnerships. In conjunction with the funding, Carl Stjernfeldt, a partner with Battery Ventures, will join the Tejas Network’s board of directors.

“The support and funding that we have received from top-tier investors and venture capital firms not only validates that Indian companies can attract world class capital and compete in a global market, but also puts Tejas in a strong spot to build on its growing leadership position in the next-generation optical networking market,” said Sanjay Nayak, chief executive officer, Tejas Networks. “Working with investors who both understand and are committed to building a product company from India is critical to our success which is one of the reasons we chose Battery Ventures to lead this round.”

“While most companies in India are focused on the services industry, Tejas Networks is one of the first companies that is developing world class technology products,” said Dr. Gururaj “Desh” Deshpande, chairman of the board, Tejas Networks and co-founder and chairman of Sycamore Networks. “With its impressive expanding customer base, the company is quickly becoming a strong contender in the next generation optical networking market. Tejas has already achieved a lot of success in an extremely competitive market like India and this funding will help fuel Tejas’ leadership position on a global scale.”

Tejas Networks India Ltd.

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