Three Taiwan-based investors have joined an extended $5m series D round for Ubiquisys, a UK-based developer of third generation telecoms equipment.
Network equipment maker SerComm, UMC Capital, the corporate venturing division of semiconductor maker United Microelectronics, and venture capital (VC) firm Pacific Venture Partners were joined by US and UK-based VCs Advent Venture Partners, Accel Partners and Atlas Venture as repeat backers in Ubiquisys.
The round had previously raised $9m in July led by 5 Continents Consulting Group, a consulting group making its first direct investment, with participation from Japan’s Yasuda Enterprise Development Company and existing investors Advent, Accel and Atlas. However, previous strategic investors Deutsche Telekom’s T-Mobile Venture Fund and search engine group Google did not reinvest, a deal source said.
Frédéric Court, general partner at Advent, which has or is about to add strategic investors to four of its portfolio companies over the summer, said: "Most of the action in the past three or four months has come from strategic or corporate investors as companies are doing better and they realise innovation is accelerating and they need to be nimbler. SerComm was already close to Ubiquisys, which could be a major source of business for the hardware company."
In February last year, SerComm agreed to use Ubiquisys’ technology in its products.
Ubiquisys raised $11m in August last year, and a consortium of T-Mobile Venture Fund, Google and Accel, Atlas and Advent provided an undisclosed sum in March 2008.
Its series B round in July 2007 raised $25m and A round closed at $12m the previous September.