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MAY 5, 2008 -- iamba Networks (search for iamba Networks), provider of GPON equipment, today announced that it has closed a $7 million round of financing. Investing firms in this round include previous investors Pitango Venture Capital, Cedar Fund, Giza Venture Fund, and Kreos Capital.
"The GPON market is on the cusp of exponential growth," contends Nimrod Schwartz, partner with Cedar. "iamba has extensive PON experience and a strong management team. You combine that with the complete solution that the company has developed and the company is poised to extend its leadership role."
"iamba has been securing a market share lead in the Asian market and is penetrating other regions with its complete end-to-end GPON solution," adds Bruce E. Crocker, partner with Pitango Venture Capital. "We believe that iamba will play a leading role as one of the main providers of GPON solutions to the global GPON market."
iamba Networks says it will use the funding to enhance its product portfolio, increase its sales and customer support teams, and expand its reach to new regions. According to iamba representatives, the company's end-to-end GPON offering includes next-generation ONT and OLT system-on-a-chips (SoCs) based on the iTPM and a multi-core architecture; a comprehensive set of software packages, including OMCI and DBA; highly versatile user development units; and production-ready reference designs. The iSN1000 ONU ASIC has been in production since January 2008, and the iSL2404 OLT ASIC will be released this summer.
"Over the last six months, iamba has demonstrated significant traction in the global GPON market as demonstrated by its recent successes in Korea, where a large volume of GPON CPEs will be produced and deployed," notes Ori Israeli, managing director of Giza Venture Capital. "We believe the company's product line is well positioned to continue securing strategic design wins worldwide."
Visit iamba Networks Inc.
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