Tibit Communications announced $30 million in series C funding to support its its 10G PON manufacturing capacity and 25G PON program.
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 funding round includes Tibit’s current investors Liberty Global (LGI), Swisscom Ventures, Intel Capital, Ciena, Juniper Networks and Solasta Ventures.
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.
