Teknovus Closes $9M Round, Hires CEO

EPON chipset startup Teknovus closes $9M SeriesB round and appoints semiconductor veteran Rex Naden as president and CEO

November 9, 2004

3 Min Read

PETALUMA, Calif. -- Teknovus, Inc., the leading provider of proven triple-play (voice/data/video) broadband-access semiconductor chipsets, today announced the closing of its Series B round of funding at nine million dollars. This investment round was led by Samsung America Ventures and Mitsubishi Corporation, with participation from SUIT Growth Fund and current investors Partech International, U.S. Venture Partners (USVP), and Portview Communications. Teknovus will use this new funding to expand global operations and move to the next level of technology required for fully deployed Ethernet Passive Optical Network (EPON) broadband access.

Teknovus is shipping in volume the only fourth-generation, proven EPON chipset – available today – with the features and performance to enable fast, easy-to-deploy, and low-cost triple-play solutions for fiber-to-the-home (FTTH) at 1000 times the bandwidth of traditional DSL. Telecom carriers and service providers gain the ability to compete against other broadband access providers, such as cable, by offering a broader range of communications and entertainment services that include standard television, HDTV, video on demand, telephony, as well as high-speed data. Telecom carriers expect to enjoy a higher return on investment due to the lower cost of FTTH deployment; easier maintenance; radically lower power usage; and zero-touch software upgrades. Consumers/subscribers win with convenient, simplified, single-source access to these enhanced communications and entertainment services.

“This is a very exciting time for the EPON market and for the company. Teknovus has production-proven products, a proven team, and design wins at the top-tier equipment vendors and service providers worldwide. We’ve been on a fast track for product development and support, yet have spent a relatively small amount of money to date,” stated Dr. Rex Naden, president and CEO for Teknovus. “We have two new strategic investors who believe in the vision of fiber-optics networks for broadband access, as well as Teknovus’ enabling role for FTTH through our EPON chipset. With Japan and Korea taking the global lead for deployment of fiber-to-the-home (FTTH), the participation of market leaders such as Mitsubishi Corporation and Samsung as investors is quite significant.”

In a separate release:

PETALUMA, Calif. -- Teknovus, Inc., the leading provider of proven, triple-play (voice, data, video) broadband-access semiconductor chipsets, today announced the appointment of Rex Naden as president and CEO. Dr. Naden’s career spans 30 years of successful leadership in the semiconductor industry, with 14 years dedicated to advanced communications products.

Teknovus is shipping in volume the only fourth-generation, proven EPON chipset – available today – with the features and performance to enable fast, easy-to-deploy, and low-cost triple-play solutions for fiber-to-the-home (FTTH) at 1000 times the bandwidth of traditional DSL.

Dr. Naden stated, “Teknovus is well positioned to lead the FTTH broadband-access transition, with our EPON chipset strategically aligned with the growing global demand for triple-play (voice, data, video) services. We’re the only company delivering proven EPON chipsets, which will enable the massive, global deployment of fiber-to-the home. Our customers include the top-tier service providers and equipment vendors worldwide, and we have a team comprised of the world’s leading EPON technologists. I look forward to leading the company in its continued success as it becomes a major player in the high-growth fiber-to-the-home market.”

Teknovus Inc.

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