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Ishoni closes $35 m. in third round

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CIOL Bureau
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BANGALORE: Ishoni Networks, which is engaged in building broadband engines,

has raised nearly $35 million from several venture capital firms, investment

banks, venture lenders and strategic partners in the third round of venture

funding. The funds generated from the round will be used for further expansion

and development of its product.

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According to a press release, meVC Draper Fisher Jurvetson Fund I led the

venture funding round. The new investors include Brad Peery Capital, Credit

Suisse First Boston, Deutsche Banc Alex Brown, PacRim Venture Partners, SinoStar

Capital and several other strategic investors. Investors from the earlier round,

Bessemer Venture Partners, Information Technology Ventures, INVESCO Private

Capital and Lucent Venture Partners, also participated. The company has so far

raised approximately $65 million through three financing rounds.

Ishoni will use the funds to develop its broadband-engine technology, which

is currently sampling with select customers, the release said. The company’s

proprietary silicon-and-software technology offers manufacturers of broadband

CPE, like residential gateways and IADs, with an integrated, modular solution

ranging from a basic system platform to a complete system solution.

"The Ishoni technology has already proved its mettle in our labs, and we

are now taking the next step in aggressively marketing our technology,"

said William Lee, president and CEO of Ishoni Networks. "This additional

round of funding will also allow us to expand our product portfolio, so we can

deliver the caliber of broadband engine that OEMs and service providers will be

demanding over the next decade."

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