Tibit Raises $30M to Expand 10G Manufacturing Capability and Upshift to 25G PON
Via Tibit Communications via PRNewswire
Jun 23, 2022
PETALUMA, Calif. -- Tibit Communications, Inc., a Petaluma, CA based company developing the world's most innovative network devices for fiber broadband access, announced today a significant increase to investment in both its 10G PON manufacturing capacity and 25G PON program.
This $30M investment, Tibit's Series C round, includes Tibit's current investors Liberty Global (LGI), Swisscom Ventures, Intel Capital, Ciena, Juniper Networks and Solasta Ventures.
The investment will be used immediately to accelerate Tibit's 25G ASIC program, which will build upon its successful 10G ASIC and MicroPlug™ OLT product line. 25GS-PON will be the next big step in PON access speeds for enterprise, multi-gig residential services and 5G wireless connectivity. Tibit is a founding member and contributor to the 25GS-PON MSA, the 25 gigabit PON standard which now includes almost 50 carriers, system vendors and solution providers worldwide (www.25gspon-msa.org). Tibit's increased investment in 25GS-PON today will establish the Tibit MicroPlug™ OLT product line as a cornerstone platform for the next big step in fiber broadband access speeds.
The Series C investment will also scale Tibit's manufacturing capabilities to meet demand fueled by its successful solution partnerships, game-changing innovations in simplifying PON and control of its own OLT ASIC silicon.
"Tibit has been well positioned to take advantage of the tailwinds from operators investing in 10G PON fiber deployments, which have led to incredible momentum for the company in the marketplace and strong investor support. This funding will enable us to grow our 10G manufacturing capabilities and develop an innovative 25G solution," said Richard Stanfield, President and CEO of Tibit.
"Liberty Global values suppliers that innovate core intellectual property to network services," said Colin Buechner, Chief Network Office at Liberty Global. "Tibit has proven an ability to deliver a new ASIC and HW design in the 10Gbps MicroPlug™ OLT, which has been tested through a lengthy deployment in LGI's UK network. We welcome, and are proud to support, their continued innovation at the 25Gbps PON speed."
"Tibit's expertise down to the ASIC level enables a deep understanding of PON technology, and flexibility to innovate new form factors," said Pär Lange, Investment Partner at Swisscom Ventures. "We are pleased to see their increasing success as both an investee and partner."
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