Actelis Networks announced Tuesday that it has received a multimillion-dollar funding boost from its investors. The amount was not disclosed.
Existing Actelis investors Adams Street Partners, ATA Ventures, Argonaut Ventures, Carlyle Venture Partners, Dupont Capital Management, Global Catalyst Partners, Individuals’ Venture Fund, Saints Capital, smac | partners, T-Venture, Vertex Venture Capital and The Walden International Investment Group participated in this round of funding.
Actelis said the new capital will go toward supporting further growth and deployment of Actelis’ Ethernet in the First Mile (EFM) products by telecommunications network service providers, private enterprises and government municipalities. In addition, it will enable Actelis to take advantage of opportunities presented from the $7.2 billion broadband stimulus, part of the American Recovery and Reinvestment Act (ARRA) of 2009.
Even during an economic downturn, Actelis said it continues to experience expansion across Europe and North America, signing agreements with more than 20 additional new customers over the past two fiscal quarters in 2009. In all, the company’s gear is installed by 150 network service providers in more than 35 countries.
In Europe, Actelis has signed new agreements with various CLECs and large incumbent network service providers, including NetCologne, Telekom Slovenije and France Telecom-Orange, the No. 3 mobile operator and the No. 1 provider of broadband Internet services in Europe.
In the United States, Actelis has been working closely with a number of large incumbent network operators as well as Tier 2 and Tier 3 independent operating carriers, providing ongoing support during their broadband stimulus application process. These service providers can leverage stimulus dollars and/or use low-interest RUS funds to purchase Actelis’ RUS-listed products.
Actelis’ Carrier Ethernet switching capabilities are certified compliant with MEF 9, MEF 10, MEF 14, and MEF 18 specifications.
