VxTel Raises $62 Million

Financing round, led by Bowman Capital Management, raises total funding to $75 million

October 26, 2000

1 Min Read

FREMONT, Calif. -- VxTel, Inc. a silicon solutions company for next-generation broadband communications networks, announced today that it has closed a $62 million round of private equity financing, bringing total funding to more than $75 million. The funding will aid VxTel’s drive to become the premier provider of carrier-class silicon and subsystem solutions for emerging broadband communications carrier markets such as voice-over-packet, voice-over-DSL, voice-over-cable, and voice-over-wireless.VxTel's investment group combines some of the industry’s most respected investment banks and venture capital firms with global telecommunications companies. In addition to existing investors Sequoia Capital, Telesoft Partners, and Raza Ventures, venture capital participants in the current round include lead investor Bowman Capital Management, Capital Research and Management Company, Essex Investment Management Co., Robertson Stephens' Bayview 2000 L.P., and U.S. Bancorp Piper Jaffray.

"The substantial amount of the investment coupled with the strategic support of the new and existing investors will be used to help us expand our leadership and accelerate the deployment of converged networking services," said Shri Dodani, President and Chief Executive Officer of VxTel. “We believe that building the infrastructure for packet-based networks is critical to delivering converged multi-service broadband carrier networks.”

http://www.bowmancapital.com

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