RANOVUS Announces $11 Million Round of Financing
OTTAWA, Ontario & SAN JOSE, Calif.--(BUSINESS WIRE)--RANOVUS Inc., a leading provider of multi-terabit interconnect solutions for Data Center and communications networks, today announced the closure of an $11 million round of financing.
“The RANOVUS team are veterans in the industry and have already delivered key technology milestones while partnering closely with leading data center players, network operators and OEMs to deliver their first market defining product.”
RANOVUS’ mission is to deliver innovative 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.
“We started RANOVUS with a world-class team of technologists and marketers to address the ever increasing challenge of cost-effectively scaling Data Center networks. Our platform technology enables Data Center operators to achieve cost-effective, power efficient and low latency connectivity from 100Gb/s to multi Tb/s,” said Hamid Arabzadeh, RANOVUS’ Chairman, President and CEO. “We are delighted to have such reputable global investors as Azure Capital Partners, T-Venture, BDC Venture Capital, and OMERS Ventures sharing our vision and investing in RANOVUS as we enter the market validation phase of our disruptive product portfolio.”
RANOVUS’ product platform is enabled by the company’s innovation in Quantum Dot Multi-Wavelength Laser technology combined with advanced digital and photonics integrated circuit technologies.
“Over the last decade we have invested and closely partnered with emerging technology leaders that have transformed the landscape of the communications industry. RANOVUS’s solutions enable a high capacity platform for cost-effective terabit interconnectivity-- a reality that is required for the new cloud computing infrastructure” said Paul Ferris, founding General Partner, with Azure Capital Partners. “The RANOVUS team are veterans in the industry and have already delivered key technology milestones while partnering closely with leading data center players, network operators and OEMs to deliver their first market defining product.”
“There has never been a better time to invest in companies that address global resource, productivity and efficiency challenges. RANOVUS is such a company, commercializing innovative technology” stated Larry Lam, Partner with the BDC Venture Capital Energy/Cleantech Fund. “Their ability to raise this level of funding from a series of tier-1 investors is a testament to their value proposition. I’m very excited to join the team as a member of the board of directors and look forward to supporting the company in its exciting journey.”
RANOVUS will utilize the new round of financing to execute on the company’s innovative roadmap, its expansion plan to support product delivery and ramp up its leading interconnect solutions.
RANOVUS, with operations in Ottawa, Canada and San Jose, USA, is a solution provider for the next generation interconnects for the telecommunications and information technology industries. 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 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 Venture Capital
With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on venture funds as well as IT, healthcare, and energy/clean technology companies with high growth potential. From seed through expansion to exit, our mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian technology ventures. Find out more at www.bdc.ca/vc or on Twitter @BDC_VC.
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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 nearly $61 billion in net assets. It is an initiative of OMERS Strategic Investments (OSI), an investment entity with a mandate to build long-term strategic relationships with like-minded partners. 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.
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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 www.marsdd.com/aboutmars/partners/iaf.