Ikanos Caps Fourth Round
All told, Ikanos's Series D funding measures $33 million. The first $30 million came in February from previous investors, led by Sequoia Capital (see Ikanos Scores $30M). Yesterday's $3 million was from new investors wanting to join in, TL Ventures in particular.
Recent publicity might have helped TL pull the trigger on the deal, as Ikanos has been busy hyping the outcome of the VDSL Olympics, a series of tests run to determine the merits of competing VDSL line-code schemes (see DMT Chips Win 'VDSL Olympics').
"The timing was very good, no question," says Piyush Sevalia, Ikanos director of product marketing.
Sevalia wouldn't even hint at how long the Series D money is intended to last, saying only that it is meant to take Ikanos to profitability. All told, Ikanos has raised more than $85 million since being founded in 1999.
— Craig Matsumoto, Senior Editor, Light Reading