Chipmaker T-Networks completed its second round with $30.6 million in funding, the company announced Monday. Past investors Greylock, Intel Capital, Sequoia Capital, US Venture Partners and Vitesse Semiconductor contributed to the round, along with newcomer TL Ventures. The Allentown, Penn.-based T-Networks will use the financing to beef up its engineering team and to continue developing its products and sales efforts.
The company makes indium phosphide chips for optical telecom equipment that can transmit data at 10gbps (gigabits per second) and 40gbps. T-Networks expects to make sales revenue and reach volume production of its chips by the second half of this year. Indium phosphide and silicon germanium chips are less common than silicon dioxide-based chips but have speed advantages for specialized uses such as communications gear.