Ottawa’s RANOVUS raises $24 million to help “accelerate our expansion plan”

After raising $11 million last year, Ottawa-based Ranovus has announced a massive $24 million (USD) in financing. The company are providers of multi-terabit interconnect solutions for Data Center and communications networks has other offices in operations in Mountain View, USA, and Nuremberg, Germany.

The $24 million was funded by all existing investors — Azure Capital Partners, T-Venture, BDC Venture Capital, OMERS Ventures, and MaRS Investment Accelerator Fund — and also unknown group of new investors.” The additional influx of money will be used to expand its product offering and speed up its delivery to its customer base.

Hamid Arabzadeh, RANOVUS’ Chairman, President and CEO, said, “We’re very pleased with our progress over the past year as we achieved significant technical and commercial milestones of our innovation roadmap to enable scalable multi Tb/s inter-datacenter and intra-datacenter connectivity for our lead customers as we work together with them to build networks for the future.”

Ian Hardy

Ian Hardy

Ian is publisher at MobileSyrup. He's been quietly creating and building things for years and is completely addicted to Tim Hortons.