Monday, January 17, 2005

Chelsio Raises $25 Million for its 10GbE Adapters

Chelsio Communications, a start-up offering 10-Gigabit Ethernet server adapters and protocol acceleration technology, has completed its third round of private venture funding, raising $25 million. Chelsio said it has seen a steep revenue ramp of over 300% quarter-to-quarter growth since introducing the industry's first 10Gb Ethernet adapters with protocol offload capability in early 2004.

Chelsio's third round was led by INVESCO Private Capital and includes new investor Hotung Capital Management. Existing venture partners Sequoia Capital, New Enterprise Associates, Global Catalyst Partners, Pacesetter Capital Group, Horizon Ventures and Abacus Capital are all participating in the new round. The latest round of funding raises the total investment in Chelsio to $55 million.