September 14, 2017
Actelis Networks, a copper solution worldwide supplier of Ethernet, announced yesterday that it has received a multi-million dollar funding boost from investors, that will allow it to deploy and grow its First Mile products.
The First Mile products are used by telecommunications providers, government municipality transportation systems, and IT markets in private enterprises in the healthcare and education sectors.
Alongside the new investment money are also the funds that the company received from the US$7.2 billion broadband stimulus that were given as a part of the Obama Administration’s American Recovery and Reinvestment Act this year.
Current investors in Actelis include Carlyle Venture Partners, ATA Ventures, T-Venture, Global Catalyst Partners, Vertex Venture, Dupont Capital Management, Individuals’ Venture Fund, Adams Street Partners, Saints Capital, The Walden International Investment Group, and smac.
CEO, president, and co-founder of Actelis, Tuvia Barley, said that with the new funding the company will be able to keep its financial hold on the market so that it can work towards growth both domestically and in the international market.
Barley continued to say that Carrier Ethernet is the area of the telecom market that is experiencing the highest level of growth and that the new demand for the solutions by EFM will bring more opportunities for the company.
Actelis is also using the money provided by the stimulus funds to make its products look more desirable to service providers by creating backhaul solutions that make the transition from copper networks into copper based Ethernet services.
Even though fibre is thought to be the next wave of the future, Actelis has a firm hold on the market since it is a solution that can be implemented now without interfering with current customer service.