Plato Networks, chip company for low-power data centers, raises $20M

Plato Networks, a Santa Clara, Calif. fabless semiconductor company specializing in communications IC’s for the energy-efficient datacenter, said it has raised a $20 million second round of funding. The investment was led by Granite Ventures, who was joined by STIC International and founding investor Crosslink Capital, according to a press release.

Plato Networks will use the $20 million in new funding to accelerate development of low-power 10Gbps Ethernet products.

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Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.

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