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August 10, 2007
Irish Intune Gets A $17.75M Optical Deal
Irish VC investment may down this year but it is not due to the lack of promising companies in the region, nor a lack of stock market stars in its recent tech past, as the Irish Independent illustrated in a recent feature story. You could also just ask the syndicate of London VCs that backed Dublin-based Intune Networks latest $17.75 round, namely Amadeus Capital Partners, Balderton Capital and Spark Capital. (via SiliconRepublic.com)
Or ask the partners at Atlantic Bridge, the venture fund that invested some $16.2M into GPS chipmaker Glonav, and who've been talking up its growth in the East Asian market, or ask the Canadian investors that took a stake in the fabless semiconductor upstart Redmere Technologies, one of the companies that this publication's reporter of the first hour, Valerie Thompson, has been following.
Founded in 1999 by John Dunne and Tom Farrell, Intune is an optical transceiver developer that recently recruited Tim Fritzley, a former Microsoft IPTV executive, as chief executive.
Intune is commercializing its laser tech by developing components that it says meet the requirements for IPTV service providers
If you are into optical components, then the buzzword is ROADM (Reconfigurable Optical Add Drop
Mulitplexors). As we read it, Intune has developed optical transceivers that support ROADM, which is what the telcos are using for the transport layer below Ethernet/IP for delivering IPTV and interactive services in their networks.
Balderton's George Coelho said in a Silicon Republic report on the deal: “The demands of the consumer have evolved significantly over the past decade and the requirement to deliver diverse, high-quality content in real-time is paramount to the success of the fixed-line telecoms industry. This presents an exciting opportunity for Intune. We are delighted to be involved with Intune and share their vision for the optical networking business.”
Early stage capital for Intune Networks was provided by Bank of Scotland (formerly ICC Ventures), Enterprise Ireland and angel investors including Chris McHugh and Leonard Donnelly.
Posted on August 10, 2007 07:01 AM | Posted to Hardware | News And Updates | Semiconductors | Permalink
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