Actelis Networks, maker of equipment that lets ethernet run over copper wires, tacked $4.7 million more onto its previously raised $15 million sixth round of funding, reports VentureWire. With fiber optics becoming too pricey for many businesses, copper has become a popular alternative.
The Fremont, Calif.-based company says that of its 150 clients most are telecommunications companies. But it has recently caught business from several California cities (including Sacramento) that want to use copper ethernet for their traffic-control systems. In many cases, the copper wiring has long been installed for other purposes.
Actelis would not disclose the investors in this round, but did say all of its previous backers that had the cash on hand participated. In the past, it has received funds from ATA Ventures, Carlyle Group, Dupont Capital, New Enterprise Associates, Saints Capital, Vertex Venture Capital and Walden International. The company has raised more than $140 million to date.