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Press Releases
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Mayfield Fund invests in Tejas Networks
Bangalore, India, January 17, 2007 – 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.”
About Tejas Networks
Tejas Networks India Limited is an emerging leader in next-generation optical networking products for the global market. Tapping into the exploding need to deploy broadband data services based on Ethernet while still supporting traditional voice services, Tejas pioneered the development of cost effective, software-differentiated, next generation SDH/SONET products that enable telecom carriers to converge traditional voice-based networks with the new data-dominated networks. With several customers around the world using thousands of Tejas products in live carrier networks, Tejas continues to build on its mission of delivering state-of the-art, cost-effective optical networking products to the global market. Contact Tejas Networks at http://www.tejasnetworks. com
About Mayfield Fund
Mayfield Fund provides "venture capital with impact" by partnering with exceptional individuals to create industry-leading companies. Our investment sectors include communications/wireless, consumer/media, enterprise software and semiconductors. We have over $2.4 billion under management. Contact Mayfield fund at http://www.mayfield.com.
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