Mayfield Fund invests in Tejas Networks

RELATED NEWS Nagreeka Exports to demerge its investment portfolio Verizon Business builds Atlantic mesh network Sterlite Optical zooms to new high Nifty BSE | NSE 09/02/12 Are Mutual Funds betting on Nifty?

Tejas Networks, an emerging leader in next-generation  optical networking products, today announced that Mayfield Fund  has  joined  the existing set of investors. Following this, Mr. Navin Chaddha,  Managing  Director  of Mayfield Fund will be joining the Board of Directors of Tejas Networks. Mayfield is becoming part of the total capital structure  of  the company (approx $49M to date) and there is no additional capital  that has been raised since the last round of Series D financing in November, 2006.

 

"We  are extremely delighted by the endorsement Tejas has received with the addition of Mayfield Fund as an investor. Tejas is well positioned to build on  its  growing  leadership position in the global next-generation optical networking  market  by leveraging Mayfield's relationships, perspective and history  of building industry-leading companies in the networking equipment space.  We  are  excited  to  have Navin join our Board of Directors, as he brings  great  domain  expertise,  Indian  markets  experience,  and global perspective," said Sanjay Nayak, Chief Executive Officer of Tejas Networks.

 

"We are excited to become part of Tejas Networks, which is one of the first global  product  companies  from  India.  We  hope  to  be part of the team catalysing  the  growth  of Tejas in scaling its operations to span markets worldwide" said Navin Chaddha, Managing Director Mayfield Fund.

 

"I am excited to see the tremendous progress that Tejas has made. They have  shown  that  it  is  possible  to  develop world-class technology and products  and  compete  against the best in the business," said Dr. Gururaj "Desh"  Deshpande,  Chairman  of  the  Board,  Tejas  Networks.   "With its impressive product portfolio and an expanding customer base, the company is well poised to become a strong global player."

 

Sourced From: 20 : 20 Media Pvt Ltd