Teknovus Gets $13M

Series C round of funding of $13 million brings the total funding of the company to $33 million to date

August 29, 2005

2 Min Read

PETALUMA, Calif. -- Teknovus, the leading provider of Ethernet Passive Optical Networks (EPON) chipsets for the deployment of IPTV in broadband access networks, today announced the closing of its Series C round of funding at $13 million. This brings the total funding of the company to $33 million to date. This investment round was led by Focus Ventures of Palo Alto, Calif., with participation from Infotech Ventures Ltd. of Beijing, China, Komura of Tokyo, Japan, Venture Tech Alliance of San Jose, as well as current investors Mitsubishi Corporation, Partech International, Portview Communications, Samsung Ventures America, SUITgrowth Fund, and U.S. Venture Partners (USVP). Teknovus will use this new funding for the continued development of company infrastructure and industry-leading semiconductor technologies used in the global deployment of broadband access networks.

Teknovus leads the EPON market in global carrier deployments of fiber-to-the-home (FTTH) broadband access networks, including exclusive use of Teknovus EPON chipsets by KDDI (Japan) and Korea Telecom (KT). Teknovus also leads in technology superiority with the only EPON technology to enable simultaneous delivery of IPTV/video, voice, and data services in FTTH networks. Additionally, Teknovus gigabit EPON chipsets are the first EPON products on the market to complete the IEEE 802.3ah compliance standards, the ideal checklist for interoperability among telecom carriers. This rigorous compliance-standards testing and verification was recently conducted by the prestigious University of New Hampshire Interoperability Laboratory (UNH-IOL).

“Fiber-to-the-home is ramping up in Asia, especially in China, Japan and Korea where advanced telecommunications is experiencing a strong growth rate,” said James Boettcher, general partner of Focus Ventures. “With Teknovus clearly emerging as the preferred vendor of choice for EPON technology, they are well positioned to benefit from our extensive Asian channel connections.”

“Our new investors reflect a deep understanding of the high-growth potential of FTTH access networks and the use of EPON within the Asian marketplace. In addition, these investors have strong strategic connections within Asia, and have the ability to assist in our plans for new deployments,” stated Dr. Rex Naden, CEO of Teknovus. “We’re also very gratified by the continued support of our current investors who enabled us to achieve our technology and deployment leadership position in the EPON market. They, along with our employees, have been rewarded with an increase in the valuation of the company with the C round.”

Teknovus Inc.

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