VCs' darling ready with first product
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VCs' darling ready with first product

By siliconindia staff writer   |   Thursday, 25 March 2004, 08:00 Hrs
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BANGALORE: Three months hence, the first networking product from Axiowave Network will appear, reports Economic Times.

The US-based Axiowave has so far got $96 million in venture funding for a product that is still under wraps. "We are in stealth mode" Axiowave's co-founder, president and CEO Mukesh Chatter, told ET.

Response from select customers using the product is encouraging, he told the daily. Intense competition from traditional and new rivals and pressure to grow customers are core issues that service providers like telecom companies face. Priority for these companies, therefore, said Chatter is investing in technology solutions that will bring down cost of operations and squeeze more performance from existing equipment.

Axiowave's offering, besides being the solution for service providersÂ’ pressing issues, will also help them roll out new services and gain competitive advantage, he said. Besides Chatter, Axiowave has Ray Stata, chairman of leading semiconductor firm Analog Devices as co-founder.

The duo earlier co-founded Nexabit Networks, a networking company, which got sold to Lucent Technologies for close to $1 billion. Chatter said that while he had to knock on the doors of over 55 US-based venture capital companies while seeking money for Nexabit, there has been a steady stream of investors for Axiowave.

"I suddenly discovered that I have lot more friends when I announced Axiowave." he said. His confidence in Axiowave's success stems from telecom service providersÂ’ willingness to invest in new technologies. Axiowave is likely to have a substantial Indian development presence in a few years. Although Chatter is not willing to talk about future plans, an Indian presence is mandatory, for cost and quality.




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