China-based networking equipment producer Centec Networks closed a $47m series E round yesterday that included China Electronics Innovations Fund, a subsidiary of telecommunications equipment manufacturer China Electronics Corporation (CEC).
The round was led by China Integrated Circuit Industry Investment Fund (CICF), a vehicle aimed at the country’s integrated circuit supply chain ecosystem, and which is backed by state-owned telecom firm China Mobile, China Development Bank and China’s Ministry of Finance.
Founded in 2005, Centec produces ethernet switching equipment that helps data centres migrate from traditional architecture to modern-day software-defined networking (SDN) technology.
The series E capital will go towards product development and increased marketing and sales activities, particularly in North America. The company has now raised a total of $77m, with CEC previously leading a series D round of undisclosed size.
Delta Venture Enterprise, Infinity I-China Investments and SuZhou Rongda provided $10.7m of series C funding for Centec in 2011, and its other investors include DT Capital, Enspire Capital and Oriza Holdings, the investment arm of Suzhou Industrial Park, according to deals database CrunchBase.
James Sun, CEO of Centec Networks, said: “This funding round further establishes Centec as one of the top global sources of ethernet switching silicon, and will enable us to meet growing product demand, accelerate innovation, and launch a new product family for the rapidly growing SDN white box market.
“The CICF investment also reinforces our position as a leading innovator in the worldwide market for ethernet switching silicon, and a valued partner for customers entering the Chinese market.”