Xelerated lands €12M in new funding

Xelerated's existing investors Atlas Venture and Alta Partners also participated in the round. The funding will be used to build out sales and support globally as well as to accelerate the development of next generation products. "I am very excited with the addition of Accel Partners and Amadeus Capital Partners to our investor base," says Johan Börje, CEO of Xelerated. "With the backing of such solid investors and more than 15 customer designs hitting volume production this and next year, I am confident in our continued success. We now have a fully funded business plan taking us to profitability in 2006," Johan Börje concludes. The Metro Ethernet equipment market hit €2 billion in 2004, and is projected to double to €5,8 billion by 2008, according to Infonetics Research. Xelerated's next generation chip, the X11, is specifically designed for Ethernet equipment and is the only network processor delivering the same cost per port as fixed function ASICs. The X11 has taped-out and first samples will be shipped to customers in July. Xelerated is a Swedish based fabless semiconductor company in the data communications industry who has revolutionized the industry with its novel data-processing technology. Xelerated's award-winning network processors, based on a patented data-flow architecture combining ASIC efficiency with programmability, enable OEMs to build low cost, flexible network system solutions for a wide range of switching and routing platforms.