Teknovus Raises $28M

Petaluma-based Teknovus said this morning that it has received an additional $28M in an equity financing. The new funding came from Lightspeed Venture Partners, which led the round, along with new investors Galleon Crossover Fund, Vision Venture Capital, Technology Alliance Investment and Itochu Technology Ventures. Existing investors USVP, Partech, Focus, Samsung, and Mitsubishi also participated. Teknovus is developing chipsets for the Ethernet optical networking market. Teknovus said the funding will go towards expanding marketing, sales, and support. More information »