RANOVUS announces $24 million USD expansion financing round
Ottawa, Canada, Mountain View, USA, Nuremberg, Germany- October 9, 2014: RANOVUS Inc., a leading provider of multi-terabit interconnect solutions for datacenter and communications networks, today announced a new $24 million USD round of financing.
“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’ mission is to deliver innovative 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. Our 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. “I’m delighted to join RANOVUS’ board of directors and look forward to working closely with the existing board members and the executive management team as the company enters the deployment phase of its disruptive product portfolio.”
“As RANOVUS is expanding its global customer base, we look forward to growing our relationship with the company to support its business,” stated Andrew Pinkerton, Senior Investment Manager with EDC Investments. “The company has done a tremendous job assembling a world class team and securing Tier 1 customers. We are excited to support RANOVUS’ future growth.”
RANOVUS’ product platform is enabled by the company’s innovation in Quantum Dot Multi-Wavelength Laser combined with advanced silicon photonics integrated circuit technologies that enable multi Tb/s connectivity over a single mode fiber pair, offering significantly lower connectivity cost than any commercially available solution.
RANOVUS, with operations in Canada, USA, and Germany, develops and manufactures advanced solutions for the next generation of interconnects for the telecommunications and information technology industries. Our team has extensive experience in product development and commercialization of optoelectronics components and transceiver subsystems for the information technology industry. RANOVUS’ current disruptive portfolio includes Quantum Dot Multi-Wavelength Laser technology and advanced digital and photonics integrated circuit technologies that are setting a new industry benchmark for the lowest power dissipation, size and cost for the next generation of optical interconnect solutions.
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. Additional information about RANOVUS can be found at www.ranovus.com
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About OMERS Ventures
OMERS Ventures (Twitter: @OMERSVentures) is the venture capital investment arm of OMERS, one of Canada’s largest pension funds with more than $65 billion in net assets. As both an institutional angel investor and a later-stage investor, OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy. For more information please visit www.omersventures.com<http://www.omersventures.com>.
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EDC is Canada’s export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public- sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.
For more information about how EDC can help your company, visit www.edc.ca.
About Azure Capital Partners
Founded in 2000, Azure is a San Francisco-based venture capital firm with over $750 million under management. Azure invests in early stage technology companies that are at the forefront of a transformative opportunity for growth. Azure’s portfolio companies have included some of the most successful and important technology companies created in the last decade, such as VMware (NYSE: VMW), Bill Me Later (acquired by eBay), Calix (NYSE: CALX), Cyan (NYSE: CYNI), Top Tier (acquired by SAP), TripIt (acquired by Concur) and World Wide Packets (acquired by Ciena).
T-Venture is the Venture Capital Company of Deutsche Telekom and was founded in 1997. The headquarters is in Bonn. They are supported and complemented by T-Venture of America, Inc. in San Francisco and Seattle. Investment activities focus on Europe, the United States and Israel. T-Venture today is one of the leading Corporate Venture Capital companies worldwide. Since its inception, T-Venture has invested in more than 190 companies and accomplished more than 20 very successful exits. Top executive involvement in the T-Venture Supervisory Board and Investment Committees ensure strong alignment with Deutsche Telekom.
About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.
From venture capital and equity, to growth and transition capital, our team of over 100 experienced, local professional partners with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.
About MaRS Investment Accelerator Fund
The Investment Accelerator Fund (IAF) (@MaRSIAF) provides seed funding to qualified emerging companies in Ontario. A critical component of the Ontario Network of Entrepreneurs (ONE), the IAF supports the launch and development of innovative companies in Ontario’s priority sectors of advanced materials and manufacturing, information technology, cleantech and life sciences. To learn more, visit http://iaf.marsdd.com