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Home > PE News

Chelsio Communications gets $17m venture funding Chelsio Communications gets $17m venture funding

18 Nov 2009. Source: AltAssets
Chelsio Communications Inc has completed a $17m round of financing.  Chelsio supplies ten gigabit ethernet adapters, application-specific integrated circuits, and storage solutions which it claims make it the leader in the convergence of networking, storage and clustering interconnects.

Participants in this round included existing investors New Enterprise Associates (NEA), INVESCO Private Capital, Investor Growth Capital, LSI Corporation, NTT Finance, Vendanta Capital, Abacus Capital Group, Pacesetter Capital Group and Horizon Ventures, plus newcomer Mobile Internet Capital.

Kianoosh Naghshineh, president and CEO of Chelsio, said, “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.  This new capital not only allows us to continue our technology leadership with our unified wire adapters...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.”

With this investment, NEA continues its focus on investing in the communications and technology sectors; it recently backed mobile advertising company Millennial Media.

Copyright © 2009 AltAssets

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