Tejas Networks receives $6.6 m second round funding

NEW DELHI: Tejas Networks has announced the closing of its second round of funding, which was led by new investor IL&FS Venture Corporation (IVC) with Intel Capital coming in as a co-investor. IVC and Intel Capital were joined by Dr Gururaj "Desh" Deshpande, chairman of the Tejas board of directors and a previous investor in the first round. The funding of $6.6 million will help Tejas expand its product portfolio and increase its sales and marketing capabilities.

Tejas develops products for building intelligent optical networks worldwide. Tejas has already deployed its TJ 100 family of next-generation SDH products in a major carrier network, Tata Power Broadband, in Mumbai. Tejas provides complete solutions to telecommunications companies using its own products, and those sourced from third party leaders in optical networking and Internet Protocol (IP) solutions.

"Optical Networking has a lot of potential and we look forward to being able to draw on the experience of our investors as we take Tejas through the next stage of its growth," said Sanjay Nayak, co-founder and chief executive officer of Tejas.

"We have seen many successful information technology services companies from India who have taken advantage of cost-effective, high-quality engineering talent within India. Tejas has shown strong early evidence of moving up the value chain and using the same strengths to create a global and profitable product company from India," said IVC managing director, Hetal Gandhi.