Ranovus, a Canada-based technology company which makes optoelectronic interconnection products for data networks, has closed an $11m round of financing from firms including venture capital firm Azure Capital Partners, Deutsche Telekom’s venture capital unit T-Venture, venture capital investor BDC Venture Capital, OMERS Ventures, the venture capital investment arm of Canada-based pension fund OMERS, and Ontario-focused seed stage investor MaRS Investment Accelerator Fund.
Hamid Arabzadeh, Ranovus’ chairman, president and chief executive officer, said: “We started Ranovus with a world-class team of technologists and marketers to address the ever increasing challenge of cost-effectively scaling Data Center networks. Our platform technology enables Data Center operators to achieve cost-effective, power efficient and low latency connectivity from 100Gb/s to multi Tb/s. We are delighted to have such reputable global investors as Azure Capital Partners, T-Venture, BDC Venture Capital, and OMERS Ventures sharing our vision and investing in Ranovus as we enter the market validation phase of our disruptive product portfolio.”
Paul Ferris, founding general partner, with Azure Capital Partners, said: “Over the last decade we have invested and closely partnered with emerging technology leaders that have transformed the landscape of the communications industry. Ranovus’s solutions enable a high capacity platform for cost-effective terabit interconnectivity – a reality that is required for the new cloud computing infrastructure.”
Larry Lam, partner with the BDC Venture Capital Energy/Cleantech Fund, said: “There has never been a better time to invest in companies that address global resource, productivity and efficiency challenges. Ranovus is such a company, commercializing innovative technology.”