US-based network equipment maker Capella Intelligent Subsystems has raised $20m from a consortium including SingTel Innov8, the corporate venturing unit of Singapore-based phone operator SingTel Group.
Venture capital firm Black Diamond Ventures led the round, which included VC peers Levensohn Partners, Formative Ventures, Lucas Venture Group and Rustic Canyon Ventures.
In January 28 2008, Capella raised $15 from Lucas, Levensohn, Rustic Canyon and Formative.
Previously, Capella raised $58m from 2000 to March 2007, from consortia including phone operator BCE’s then-corporate venturing unit (now Summerhill).
Yvonne Kwek, CEO of SingTel Innov8, said: "With the increasing need of optical network flexibility and reliability, Capella’s Wavelength Selective Switch (WSS) has the potential to significantly reduce service provider capex and opex [capital and operating expenditure respectively]."
SingTel has also been behind the launch of incubator Blk71 in Singapore. it comprises of an
Blk71 is a joint initiative, between SingTel and state-backed Media Development Authority and NUS Enterprise. It will provide up to $50,000 of initial seed funding, and opportunities for follow-on funding of at least $200,000, as well as incubation space and business services, such as legal and financial advisory resources, and intellectual-property management.