Ikanos Scores $30M

Ikanos receives $30M in Series D funding, led by Sequoia Capital, to support volume shipments and production of its broadband chipsets

February 20, 2003

1 Min Read

FREMONT, Calif. -- Ikanos Communications, developer of Smart Silicon For Profitable Broadband™, today announced that it has received $30 million from its strategic investors in its Series D funding. Most of the existing investors participated in this round, which was lead by Sequoia Capital. Other investors include Greylock Partners, Intel Capital, JPMorgan Partners, Presidio Venture Partners, Ridgewood Capital, Telesoft Partners, VentureTech Alliance (an affiliate of Taiwan Semiconductor Manufacturing Company), and Walden International. Total funding secured to date is more than $82 million.Ikanos will use the new capital to support volume shipments of its programmable, integrated, broadband chipsets; of which the company has shipped more than 200,000 ports and the volume production started in the fourth quarter of 2002. Ikanos chipsets support multiple international standards of the Very High Bit Rate Digital Subscriber Line-Discrete Multi-Tone (VDSL-DMT) as well as ATM and Ethernet protocols, symmetric and asymmetric applications, and scalable speeds up to 100 Mbps over ordinary copper pairs. As a result, a single Ikanos chipset can serve many markets. With 8 ports, Ikanos chipsets also offer the highest port density in the industry. "The ability to attract funding from major investors in today's tough economy is a validation of our success," said Rajesh Vashist, president and CEO of Ikanos. "The funds we've raised will help us keep pace with the extraordinary demand for our solutions. We're shipping in volume to customers that include leading equipment vendors around the world, products that employ Ikanos chipsets are already deployed by leading telecommunications companies, and interest in our high-performance VDSL-DMT chipsets continues to escalate." Ikanos Communications Inc.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like