T-Networks Receives $30.6 M Series B Funding

Allentown, Pa., April 26 -- T-Networks Inc., which makes indium phosphide chips for 10- and 40-Gbit/s devices, announced it has received $30.6 million in second-round funding from reinvestors Greylock, Intel Capital, Sequoia Capital, US Venture Partners and Vitesse Semiconductor and from new investor TL Ventures. The company said it will expand its engineering and sales teams and continue with product development.

T-Networks said it expects to achieve revenue generation and volume product shipments by the second half of the year.