Wednesday, December 12, 2007

Zeugma Systems Raises US$22.5 Million

Zeugma Systems, a start-up based in Vancouver, announced US$22.5 million Series B financing. for its technology developments for next generation high speed broadband network. Product plans have not been announced.

The new financing was led by new investor Vertex Venture Capital, and included returning investors Granite Ventures, Ventures West, Yaletown Venture Partners, GrowthWorks Capital Ltd. and BDC Venture Capital, as well as new investors GTD Capital and BC Advantage Funds.

Zeugma Systems is led by Andrew Harries, co-founder, President and CEO and who previously co-founded Sierra Wireless Inc.; Siegfried Luft, founder, CTO and formerly a senior development executive at Redback Networks; Jeff Dillabough, VP Engineering, formerly at PMC-Sierra; Tom Meehan, VP product management, previously at Redback Networks; Wayne Shackelford, SVP Worldwide Sales who formerly led sales at several startups and at Newbridge Networks USA; and Justin Currie, VP Finance, who joined the company from Creation Technologies Inc.

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