Funding for startups

Tpack Raises 2nd Round

COPENHAGEN -- TPACK today announced the closure of its second round of funding amounting to approx. 10 million Euro. The new funding round includes Vækstfonden as a new investor together with the existing investors Innfond and Slottsbacken.

The investment confirms the investors continued confidence in TPACK's technology, business model and strong customer uptake. The new capital injection insures TPACK's focus on growth and expansion of the business.

TPACK's technology and solutions enable high quality data transport across public telecommunication networks. Over the coming years, data transport in the public network is expected to increase dramatically due to the increased use of Voice-over-IP and introduction of HDTV and Video-on-demand services. TPACK's solutions will play a key role in enabling "Triple Play" and securing the bridge between existing and new technology and services.

"We believe that TPACK has a strong, field proven technology platform and a compelling business model. We were particularly impressed by TPACK's existing customer portfolio and their positive feedback on TPACK as a valuable partner and supplier. On this basis, we are confident that TPACK with this round of funding is well positioned for further growth and to take full advantage of the development in the market", said Ulrik Jørring, Senior Vice President, Vækstfonden.

Tpack A/S

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