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ANDA Networks, supplier of Ethernet solutions for copper + fibre access networks, raises $10.5m to expand operations |
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ANDA Networks of Sunnyvale and Wuhan, the capital city of Hubei province in China, a supplier of carrier-class solutions for fibre and copper-based access networks, whose family of products includes: |
A. EtherTone™: enables carriers to deliver Ethernet, VoIP and circuit-to-packet services over existing copper and fibre infrastructure by leveraging Ethernet technology, currently said to be in use by over a dozen major carriers and NSPs across the world. |
B. Universal Access Platform: a flexible and modular system that can be provisioned to match the specific needs of a wide range of multi-service network access and applications on a single platform, and designed for carriers to provide legacy communication services while facilitating migration to next-generation networks. |
Has closed an additional $10.5 million round of equity funding mainly from Venrock Associates, Highland Capital Partners and Crimson Investment, with fourteen other large financial institutions investing in the round. |
ANDA said the funding will be used to further expand sales, marketing and support in Europe, Asia Pacific and Latin America. |
Charles Kenmore, president and CEO of ANDA Networks and board member of TIA, was quoted as saying: |
"With a healthy cash balance, six quarters of profitability and over 6,200 units shipped and deployed at Tier one carriers, this investment in ANDA Networks is an endorsement of our solid business performance and top position in carrier-class metro Ethernet access". "We were oversubscribed in our funding round because of two key factors: first, our highly cost efficient hybrid silicon valley-China business model resulted in an excess of $25 million of annual expense savings, and secondly, ANDA is being deployed as the primary Ethernet access supplier for several of the largest wireline and wireless carriers in North America". Tony Sun, Managing General Partner at Venrock Associates, added: "We believe that ANDA's hybrid silicon valley-China business model is the leading example of a cash-efficient network startup while winning key Tier one customers, including Verizon (worldwide), Bell Canada and Rogers Communications for metro Ethernet service deployments". "This business model is an attractive investment because it permits a company to reach profitability at a fraction of the capital required using a traditional U.S. based cost structure". ANDA Networks was founded in January 1998 by Wufu Chen and entrepreneurs from Cisco, Motorola, Alcatel, Nortel, Ericsson and HP. It has raised funds to date totalling approximately $100 million. The company claims to have been profitable for six quarters and says it has certified, type approved, shipped and deployed equipment in 12 new countries outside of ANDA's U.S. and Canadian customer base. © Optical Keyhole MMVI |
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| ANDA Networks • 1274 Geneva Drive Sunnyvale, CA 94089 |