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Tech Industry

Azanda grabs additional $7 million

Azanda Network Devices said Monday that it raised an additional $7 million from Newbury Ventures and other contributors to complete a second funding round of $26 million, bringing the company's total funding to $36 million. The recent funding gives Newbury Ventures a seat on Azanda's board of directors. The maker of chips for optical telecom gear said in March that it raised a $19 million second round from original investors such as Bessemer Venture Partners, Commonwealth Capital Ventures, Goldman Sachs and Highland Capital Partners. The Sunnyvale, Calif.-based company is now working on getting its chips ready for market and plans to release a data traffic-management chip this quarter.

    Azanda Network Devices said Monday that it raised an additional $7 million from Newbury Ventures and other contributors to complete a second funding round of $26 million, bringing the company's total funding to $36 million. The recent funding gives Newbury Ventures a seat on Azanda's board of directors.

    The maker of chips for optical telecom gear said in March that it raised a $19 million second round from original investors such as Bessemer Venture Partners, Commonwealth Capital Ventures, Goldman Sachs and Highland Capital Partners. The Sunnyvale, Calif.-based company is now working on getting its chips ready for market and plans to release a data traffic-management chip this quarter.