Tpack Raises $3.5M
COPENHAGEN -- TPACK (www.TPACK.com), an industry-leading provider of cutting-edge silicon ICs that provide core data transport and switching functions to leading telecom and networking equipment suppliers, today announced it has received $3.5 million USD to close its third round of funding and confirming the investors’ continued confidence in TPACK's technology, business model and strong customer uptake.
The new injection of capital will strengthen TPACK's focus on growth and expansion of the successful P-OCKET OTN Mapper platform and 100 Gbps Carrier Switches and Traffic Managers. The company anticipates that this will be the last round of funding required as the company expects to be profitable this year.
"We believe that TPACK has a strong, field-proven technology platform and a compelling business model,” said Ulrik Jørring, Senior Vice President, Vækstfonden. “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 this round of funding will strongly position TPACK for further growth and will enable them to take full advantage of the fast development of the OTN market."