Dune Networks Raises $24 Million in First Round of Funding.Business Editors AGOURA HILLS, Calif.--(BUSINESS WIRE)--Aug. 20, 2002 Dune dune, mound or ridge of wind-blown sand formed in arid regions and along coasts. Dunes are common in most of the great deserts of the world. Often a dune begins to form because material is deposited by the wind as it encounters a bush, a rock, or other obstacle to Networks Inc., a fabless provider of silicon solutions for communication platforms, announced today that it has raised $24 million in its first round of funding. The investment was co-led by Aurum-SBC Ventures, Jerusalem Jerusalem (jər  `sələm, –zələm), Heb. Yerushalayim, Arab. Al Quds, city (1994 pop. 578,800), capital of Israel. Venture Partners and Pitango Venture Capital and includes investments from Alta ALTA Alberta (Canada)ALTA AltaVista (stock symbol) ALTA American Land Title Association ALTA American Literary Translators Association ALTA Atlanta Lawn Tennis Association Berkeley Venture Partners and Elwin Capital Partners. The funding enables Dune to aggressively pursue its development and marketing goals for introducing its first generation of products. "To complete such a large Series A round in this challenging market environment is a vote of confidence for Dune," said Eyal Dagan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Dune Networks. "We believe Dune will lead a conceptual change in the space of networking devices, an area of rapid growth and vital importance to system vendors." Dune Networks is already far along in product development and will release further details about its technology towards the end of this quarter. "We invest in companies that offer innovative technologies for markets with high growth potential," said Oded Rose, managing director of Aurum-SBC Ventures, a joint investment company of the Aurec group and SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications Inc. "Dune Networks garnered substantial investor commitment in its first round due to superior technology, development expertise from the chip on up to the systems levels, and the proven ability of its management team to execute. Most important, we are convinced that Dune Networks can truly make a difference in switching, an area that is so critical to the growth and future of networking." About Dune Networks Dune Networks (www.dunenetworks.com) is a fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab. positioning itself to become the leading supplier of silicon solutions for communication platforms. Dune Network's silicon solutions are targeted at the heart of Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and storage platforms. These platforms are used in enterprise backbones, metro dense wavelength-division multiplexing In fibre-optic communications, wavelength-division multiplexing (WDM) is a technology which multiplexes multiple optical carrier signals on a single optical fibre by using different wavelengths (colours) of laser light to carry different signals. networks, the core network of national service providers, and storage networks. The company was founded in October 2000 by a team that brings in-depth system expertise, together with skills in communication theory, silicon design, marketing and customer support, to the silicon communication space. Dune Networks is headquartered in Agoura Hills, Calif, and has an R&D center in Yakum Industrial Park, Israel. |
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