Actelis Networks receives new funding round to help finance explosive expansion across Europe and North America

September 8, 2009

1 Min Read

FREMONT, Calif. -- Actelis Networks®, the leading global supplier of Ethernet over copper solutions, today announced that the company has received a multi-million dollar funding boost from its investors. This new capital will go toward supporting further growth and deployment of Actelis’ industry-leading Ethernet in the First Mile (EFM) products by telecommunications network service providers, private enterprises in the education and healthcare IT markets, and government municipalities that are upgrading city-wide transportation networks with new Intelligent Transportation Systems (ITS). The new financing also will enable Actelis to take full advantage of opportunities presented from the $7.2 billion broadband stimulus, part of the Obama Administration’s American Recovery and Reinvestment Act (ARRA) of 2009. Existing Actelis investors Adams Street Partners, ATA Ventures, Argonaut Ventures, Carlyle Venture Partners, Dupont Capital Management, Global Catalyst Partners, Individuals’ Venture Fund, Saints Capital, smac | partners, T-Venture, Vertex Venture Capital and The Walden International Investment Group participated in this round of funding.

“The additional funding round is extremely important to maintain Actelis’ strong financial position, further fueling the company’s momentum in the domestic and international marketplaces,” said Tuvia Barlev, president, CEO and co-founder of Actelis. “Carrier Ethernet is the fastest growing market in telecom, and the explosive demand for Actelis’ EFM solutions is presenting a wealth of opportunities for the company.”

Actelis Networks Inc.

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