Monday, May 7, 2007

Xelerated Raises US$23 Million for its Network Processors

Xelerated, a start-up based in Santa Clara, California and Stockholm, Sweden, raised $23 million in series C funding for its high-end network processors. Xelerated's network processors, based on a patented data-flow architecture, are aimed at enterprise backbone and metro Ethernet applications.

The new funding was led by the Sixth Swedish National Pension Fund (the Sixth AP Fund). Xelerated's existing investors Atlas Venture, Alta Partners, Accel Partners and Amadeus Capital Partners also participated in the financing round.

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