Tejas Networks raises $24M more for optical transport

October 19, 2007 | Matt Marshall

Tejas Networks India, a Bangalore vendor of optical transport equipment that says it has a 20 percent market share in India, has raised $24 million more from Goldman Sachs’s venture capital arm.

It is the company’s fifth round of capital, raising the total to $73 million since it launched in 2000. However, existing investors did not participate in latest round, which raises questions because usually previous backers want to maintain their share in the company — if it is performing well, that is.

The question wasn’t asked in this story in LightReading, which essentially just repeats the CEO’s line about the funding. Previous investors in the company are Battery Ventures, Mayfield Fund, Intel Capital and Nortel Networks. We’ve contacted the investors to ask why they didn’t reinvest.

The company apparently isn’t in trouble: It says it will double revenue this year, after getting $50 million during the year ending March 2007, according to the CEO.

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Tags: deal

About the Author, Matt Marshall

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.