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Tech Industry

VC watch: WaveSmith grabs $30 million

The hardware developer receives $30 million...PureEdge Solutions gets $9.75 million...Zagros Network raises a $9.7 million.

Which companies will be the trendsetters of the future? The following list is the latest news from start-ups here and abroad that have received venture funding.

Has your company just completed a round of financing or received other venture capital support? E-mail the editors at CNET News.com.

Recent Deals

• WaveSmith Networks announced Monday it has raised $30 million in its third round of funding. Argonaut Private Equity and Ciena, as well as previous investors Atlas Venture, Bessemer Venture Partners, Commonwealth Capital and Fidelity Ventures, contributed to the latest round.

Acton, Mass.-based WaveSmith has raised a total of $84.5 million. The company develops hardware geared to increase a telecommunications carrier's network capacity without disrupting or overhauling the network.

• Security software maker PureEdge Solutions has received $9.75 million in a fifth round of funding, the company announced Monday. The Business Development Bank of Canada led the round, which included participation from Bank of Montreal Capital, RoyNat Capital, and previous investors GrowthWorks Capital and BC Investment Management.

Victoria, Canada-based

•Zagros Networks announced Wednesday that it raised a $9.7 million second round of funding, led by previous investor Mohr Davidow Ventures. Cadence Design Systems and previous investor Novak Biddle Venture Partners also contributed to the latest round. The Rockville, Md.-based company has raised a total of $16 million. Zagros Networks designs semiconductors to allow switches and routers to quickly and reliably send information over corporate networks.

• Data Domain announced Monday it has raised $9.3 million in its first round of funding, led by Greylock and New Enterprise Associates. Both venture firms will receive a seat on the Data Domain board. The San Mateo, Calif.-based company provides data protection and storage.

• Voyager Systems announced Tuesday it raised a $7.5 million first round of funding, led by Hamilton Apex Technology Ventures. Other investors included Forrest Binkley & Brown, Shepherd Ventures and GKM Ventures. San Diego, Calif.-based Voyager Systems develops security software for wireless data transmissions.