RANOVUS Announces $24M Round of Financing
RANOVUS Inc. has 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.”
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.
