Optical Burst Startup Bags $32M
The round, which takes the company's funding to €50 million (US$72.6 million), was led by Irish serial entrepreneur and billionaire Dermot Desmond (think of him as an Irish version of Terry Matthews, if you like...) and Kernel Capital. (See Intune Gets $17.75M.)
The news comes just weeks after Intune announced a deal with the Irish government, which is building a new communications network as part of a broader range of economic stimulus initiatives. (See InTune Lands Irish Gig.)
That deal could prove to be a catalyst for the nascent optical burst switching (OBS) market, reckons Heavy Reading analyst Sterling Perrin. (See OBS: The Pipes Are Calling.)
The OBS market is so small it boasts just two players: Intune and Matisse Networks , which has already expanded outside its home turf with an early score in Europe. (See Matisse Scores in Germany and Matisse Demos EtherBurst.)
Intune says it's in trials with unidentified European carriers, and while it doesn't reveal any sales numbers or projections, the company expects to reach break even in 2011.
— Ray Le Maistre, International News Editor, Light Reading