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Chelsio Announces $17M in Private Funding

Chelsio Communications, proprietor of 10GbE adapters, ASICs and storage solutions, has announced that they have officially closed $17million in private funding.  The cash influx comes from existing investors, including New Enterprise Associates, INVESCO Private Capital, Investor Growth Capital, LSI Corporation, NTT Finance, Vendanta Capital, Abacus Capital Group, Pacesetter Capital Group, Horizon Ventures, and one new participant, Mobile Internet Capital.

Thanks to our great customers and the persistence and confidence of our investors, Chelsio has now crossed the chasm from a start-up to a reliable long term supplier in this space,” said Naghshineh. “This new capital not only allows us to continue our technology leadership with our unified wire adapters and build on the success of T3 with the addition of FCoE, CEE, SR-IOV, and other protocols, but also allows us to go into new markets with our storage software and appliance products to provide an end to end solution to our customers.”

According to CEO Kianoosh Naghshineh, the cash influx will be used for continued development of their 10GbE adapter technology as well as expanding their focus into additional markets.  For more info, read their full release here.

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