Petabit Routing Start-up Attracts $20-Million Investment From Siemens, Argo
Global Capital, TechnoCap
MONTREAL, Quebec, Dec. 6 /PRNewswire/ -- Hyperchip(TM)
(http://www.Hyperchip.com), the Petabit Routing Company(TM), today announced that it
has closed an important second round of financing. The $20-million investment
comes from key players in telecommunications, including Siemens Mustang
Ventures, which has invested in noted networking companies such as Extreme
Networks and Accelerated Networks; and Argo Global Capital, a Boston-based
fund with backing from Deutsche Telekom, France Telecom, Singapore Telecom and
Microcell Telecom, among others. TechnoCap, Hyperchip's venture investor since
its formation and Montreal's leading net-focused venture fund, also invested
in this round.
Additional shareholders in the company include William G. Ballantine, a
Seattle-based investor who has provided seed money for companies bringing
emerging technology to market, such as CyberSafe and Telecom Northwest.
Hyperchip employees, including all of the senior development team, are also
shareholders.
Richard Norman, co-founder and president of Hyperchip, said: "These
newest shareholders represent telecom giants who recognize that the demand for
petabit routing is rapidly approaching. They have determined that Hyperchip
delivers significant price/performance improvements in the short term, and
that it offers the massive scalability required for the Internet core."
Hyperchip will use the proceeds from this round to launch massively
scalable petabit routing based on a parallel processing architecture.
Hyperchip's petabit routing scales to 1280 terabits (1.28 petabits) per
second, three orders of magnitude above the leading technology available
today.
About Hyperchip
Hyperchip (http://www.Hyperchip.com) is the Petabit Routing Company. Founded in
1997, Hyperchip is a privately held company funded by Siemens, Argo Global
Capital (backed by the worlds leading telcos) and TechnoCap, Montreal's
leading net-focused venture fund. The company is headquartered in Montreal.
All financial figures included in this press release are cited in Canadian
dollars.
About Siemens Mustang Ventures
Siemens Mustang Ventures (http://www.mustangventures.com) is the venture capital
group of Siemens Information and Communication Networks, a global leader in
communications and information technology. Located in Santa Clara, Calif., and
Munich, Germany, the company targets innovative technologies with world-class
potential.
NOTE: Hyperchip and the Petabit Routing Company are trademarks of
Hyperchip Inc. Other products identified in this release are the property of
their respective companies.
SOURCE Hyperchip
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Related links:
http://www.siemens.com
CONTACT:
Anita Giani of Siemens Corporation,
408-492-6917, or anita.giani@icn.siemens.com; or Anthony
Cirurgiao of Argo Global Capital, 781-592-5250, or
agc@gsmcapital.com; or Richard Prytula of TechnoCap,
514-483-6002, or rprytula@TechnoCap.com; or Richard Norman of
Hyperchip, 514-931-5335, or rnorman@Hyperchip.com; or Gillian
Brousem of Hyperchip, 613-230-1863 or gillian@reideddison.com
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