Funding for startups

TeraBurst Enjoys $32.4M Round

SUNNYVALE, Calif. -- TeraBurst™ Networks, Inc., a leading developer of switching systems for next-generation optical networking, announced today that it has raised $32.4 million in its recent round of financing, bringing the total amount to $51.4 million since it was founded in January 2000. Tyco Ventures, the venture capital unit of Tyco International Ltd., led the investment round and was joined by Raza Ventures, Merrill Lynch Ventures LLC, Labrador Ventures and Satwik Fund. Funding will be used for marketing, research and development and customer support in order to expedite development of its next generation, carrier-class optical switching solutions.

"We are pleased to have such a high-caliber group of investors," notes Ashok Jain, chief executive officer (CEO) of TeraBurst Networks. "They immediately saw the impact of our novel waveform switching technology which combines the quality of digital technologies with the speed of photonic solutions."

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