The Hindu Business Line : Tejas gets $15 m funding

TECHNOLOGY company Tejas Networks on Thursday announced that it has completed a $15 million Series "C" round of financing led by Battery Ventures, a leading venture capital firm.

Existing investors, Mr Gururaj Deshpande, Intel Capital and IL&FF Investment Management, also participated in the round. The company would use the proceeds of the funding to expand its operational functions as well as grow its international presence through sales partnerships.

Battery Ventures is focussed on investing in technology companies at all stages of growth. Tejas Networks is focussed on developing and selling next generation optical networking products for the global market.

Mr Deshpande founder and chairman of Tejas, said with its expanding customer base the company was becoming a strong contender in the next generation optical networking market.

"Tejas has already achieved a lot of success in an extremely competitive market like India and this funding will help fuel Tejas' leadership position on a global scale," he said.

In conjunction with the funding, Mr Carl Stjernfeldt, a partner with Battery Ventures, would join the Tejas board of directors.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Long distance calls to cost less on ADC cut

Airtel launches new pre-paid plan in Chennai

Maran launches system for better use of spectrum

ADC cut to benefit VSNL, Bharti; MTNL to take a hit

Telecom industry `disappointed' with new ADC regime

Tata Indicom service in Bidar

Aberdeen picks up stake in CMC

Oracle Asia-Pacific revenues up 9 pc

Big response for `.in' domain from India Inc

Kerala may curb use of cell phones in campuses

Acrodex forays via venture with EISS

Tejas gets $15 m funding