Canadian core router company raises $12M in venture captial and $31M debt to bring its product to market

January 18, 2002

1 Min Read
Hyperchip Lands $43M in Financing

Hyperchip Inc. said Friday that it has secured another US$12.4 million in venture funding and about $31 million in repayable loans from the government of Quebec. This brings the company's total funding to date to about US$136 million.

The company says its router, designed to handle up to 65,000 OC192 (10 Gbit/s) interfaces per system, is in trials with one large carrier (see Hyperchip Hypes Its Hardware and Hyperchip Raises $67 Million ).

"We've completed our first beta trial and were pleased with the results," says Hyperchip CEO Brian Barry. "Now we're hardening the product -- testing and retesting it to make absolutely sure it is what it should be."

The company is planning additional trials with an unnamed carrier and will release its product later this year.

Hyperchip's funding round, its fourth, was led by TechnoCap with investments from Vertex Technology Fund, Advent International, Optical Capital Group, JT Ventures, Artémis, and Pilgrim Baxter.

The company has grown to 280 employees so far, several having joined recently, when IP Optical went under (see IPOptical Fades, Hyperchip Feasts and Hyperchip Hires Hershey).

— Phil Harvey, Senior Editor, Light Reading
http://www.lightreading.com

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