A new $24 million dollar round of financing was announced for RANOVUS (Ottawa, ON, Canada), provider of multi-terabit interconnect solutions for datacenter and optical communications networks. The RANOVUS product platform includes quantum dot multi-wavelength lasers combined with silicon photonics integrated circuit technologies that enable multi-terabit-per-second connectivity over a single-mode fiber pair; the company says this offering has significantly lower connectivity cost than any other commercially available solution.
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"The additional round of equity and growth capital financing, with participation from all our existing major investors as well as adding new investors, will help accelerate our expansion plan to support product delivery into our global customer base," said Hamid Arabzadeh, RANOVUS chairman, president, and CEO. "We're very pleased with our progress over the past year as we achieved significant technical and commercial milestones of our innovation roadmap to enable scalable multi Tb/s inter-datacenter and intra-datacenter connectivity for our lead customers as we work together with them to build networks for the future."
RANOVUS says its mission is to deliver high-capacity interconnect solutions to enable a scalable infrastructure to keep pace with the ever-increasing demand for fast, reliable and cost-effective network connectivity and that its technology delivers significant reduction in power dissipation, size and cost of interconnects, and enables a much lower latency compared to traditional solutions.
"In close collaboration with leading Datacenter network operators, RANOVUS is at the forefront of product innovation to satisfy ever-growing demand for the next generation of interconnect solutions," said Jim Orlando, managing director, OMERS Ventures.
RANOVUS, with operations in Canada, USA, and Germany, develops and manufactures solutions for the next generation of interconnects for the telecommunications and information technology industries. The company says its team has extensive experience in product development and commercialization of optoelectronics components and transceiver subsystems for the information technology industry. The company was founded in February 2012 and has received financing from leading venture capital firms including Azure Capital Partners, T-Venture, BDC Venture Capital, OMERS Ventures, and MaRS Investment Accelerator Fund.
SOURCE: RANOVUS; http://www.ranovus.com/ranovus-announces-24-million-usd-expansion-financing-round/
