GridToday: Chelsio Communications has announced that is has raised a total of $25M in Series-E private funding. The team of investors lead by Investor Growth Capital included New Enterprise Associates, INVESCO Private Capital, LSI Logic Corporation, Hotung Capital Management, Abacus Capital Group, Pacesetter Capital Group and Horizon Ventures.
We clearly see a significant market for 10 Gigabit Ethernet solutions enabling improved datacenter agility, performance, and overall return on investment,” stated Esfandiar Lohrasbpour of INVESCO Private Capital. “Given the quality of Chelsio’s technology, roadmap, and team, we believe they have the necessary product elements and customer momentum to become the leading company in this sector.”
Chelsio’s 10GbE product line, powered by the third-generation of Terminator 3 (T3) [please hold the bad impressions…] ASIC, is geared toward replacing competing fabric solutions such as Fibre Channel and Infiniband for a wide range of data center/HPC applications.
We believe that there is a huge opportunity to address datacenter cost of ownership through 10 Gigabit Ethernet fabric convergence solutions,” said Forest Baskett, chairman of the board and general partner at NEA. “Chelsio is well positioned to be a leader in this market, building on its technology and product leadership, and significant and accelerating revenue base. We welcome Investor Growth Capital to our team.”
Read the full article here.