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Short Take: Advent Networks gets $23 million

Advent Networks, a maker of high-speed Internet equipment for cable operators, has secured $22.6 million in second-round preferred-stock funding. UtiliCorp United, a Missouri-based energy company, led the round, and Southern Union, Motorola, Reliant Energy and others are among the company's other backers. Advent will use the capital to develop its so-called ultraband technology, which aims to offer dedicated bandwidth at speeds up to 50 times faster than today's high-speed cable modem and digital subscriber line (DSL) Internet systems.

Advent Networks, a maker of high-speed Internet equipment for cable operators, has secured $22.6 million in second-round preferred-stock funding. UtiliCorp United, a Missouri-based energy company, led the round, and Southern Union, Motorola, Reliant Energy and others are among the company's other backers. Advent will use the capital to develop its so-called ultraband technology, which aims to offer dedicated bandwidth at speeds up to 50 times faster than today's high-speed cable modem and digital subscriber line (DSL) Internet systems.