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Alopa raises $ 12.5 m in series C funding

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CIOL Bureau
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BANGALORE: Alopa Networks has decided to raise $ 12.5 million as its series C funding. Out of this it has closed an investment of $ 8.5 million. The fund was raised with VantagePoint Venture Partners, leading the round with participation from existing investors including Summit Accelerator Fund, Lucent Venture Partners, and Rainbow Fund.

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Alopa’s India Engineering Center, Vice President (Engineering) and Managing Director, Vijaya Verma, said, "We will use these funds to accelerate Alopa’s growth plans and to expand our sales and marketing operations to continue to deliver robust technology to our customers and channel partners".

"Broadband providers have hit a technology wall in being able to deliver multiple services profitably and cost effectively to their subscribers. Alopa is focused on solving this challenge for our customers," said, Alopa Networks, President and CEO, Michael Foley. "This round of venture funding will extend the momentum we've achieved and will enable us to continue to meet customer demand for such advanced services."

The Company's provisioning platform provides a single integrated infrastructure from which cable operators and broadband service providers can integrate existing legacy systems, enable easy and less expensive self-provisioning, and provide next-generation service offerings such as high-speed data, video-on-demand, and voice. 

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Currently, Alopa's MetaServ Provisioning Platform is deployed with customers and channel partners including Eastern Connecticut Cable, GCI, Motorola, Pace, Scientific Atlanta, Susquehanna Communications, Tellabs, Terayon, Wide Open West, WorldCom Wireless and other industry leading firms.

As part of the financing, VantagePoint Venture Partners, Partner, Manuel Henriquez, will join Alopa's Board of Directors. "As the cable industry begins to consolidate, we are excited about the breadth of Alopa's technology offering and their proven ability to integrate multi-tiered and multiple services for their customers with existing infrastructure."

"While broadband services are among the fastest growing segments of the communications landscape, profitability of these services remains elusive. Companies such as Alopa are addressing this issue with software platforms that reduce the complexity, time and cost associated with broadband deployment," said CIBC World Markets, Executive Director of Equity Research, Hampton Adam III.

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