PacketFront announces €9.5M in new financing

PacketFront, the leading FTTH (Fiber to the Home) supplier and pioneer in broadband networking today announced that it has raised €9.5M of new equity financing.

The financing comes from PacketFront’s existing investors TLCom Capital Partners Limited, Amadeus Capital Partners, European Equity Partners, private shareholders and PacketFront’s CEO. This financing is a clear sign that PacketFront is on the right track with its business strategy and is fully supported by its investors. PacketFront will use the funds to fuel its growth and to continue establishing itself in countries and markets in EMEA with FTTH deployments from operators, utilities and municipalities. “PacketFront has a strong base in the Nordic countries, the Netherlands and the UAE and has been systematically expanding into EMEA countries that have FTTH activity. The FTTH market continues to expand and we want to enable PacketFront to take advantage of this opportunity and to continue to grow its customer base,” says Maurizio Caio, Managing Partner of TLcom Capital. “PacketFront’s strategy is one of execution: staying focused on the FTTH market and providing end-to-end solutions for FTTH operators which has proven to be a strong differentiator,” says Hans Blomberg, Chairman of PacketFront. PacketFront is investing significantly into R&D in order to offer both an active Ethernet and GPON end-to-end solution for FTTH operators. In addition to the award-winning BECSTM fleet element manager with automation, control and provisioning capabilities, new products include home gateways and access products with gigabit capacity, ten-folding end-user broadband speeds. In addition, the company is expanding its portfolio of broadband aggregation routers to allow the full benefit of automation and advanced service control over existing broadband technologies such as ADSL, VDSL, DOCSIS CATV networks and wireless solutions.

Tags: