Tejas raises $ 20 M
Date: Friday , December 15, 2006
In our feature on India’s 25 Upstarts [October 2001], we had said, if Tejas can get a piece of the telecom action Asian countries, the company could be in good shape. Today, the company is well on its way to the next level.
Tejas Networks, the maker of next-gen optical networking products has raised $20 million in new equity financing. This funding round was led by Sandstone Capital, an India-focused fund, based out of Boston, USA. Existing investors, Dr. Gururaj “Desh” Deshpande, Battery Ventures & Intel Capital also participated in the round, along with a new co-investor, SUN Technologies.
Tejas has garnered significant market share in the Indian telecom market and has also reached international customers through strong global partnerships. The company will use proceeds of the financing to expand its international business and invest aggressively in R&D for developing new packet-aware optical products.
“We are delighted to attract funding from global investors who are excited and committed to helping build a global product company from India,” said Sanjay Nayak, Co-founder and CEO. Tejas — the Sanskrit word means “brilliance” or “radiance” — was started in July 2000.
“With its impressive product portfolio and an expanding customer base, the company is well poised to become a strong global player,” said Dr. Gururaj “Desh” Deshpande, Chairman of the Board, Tejas Networks.