Litchfield Communications Inc. (LCI), a developer of standards-based semiconductor technology, reference designs and support software for the next-generation of multi-service networking equipment, said it has closed its Series B equity round with a total of $10 million.
Led by Kodiak Venture Partners, this round of funding will allow LCI to complete the development of its first series of products and introduce them to market, officials said.
Since its inception in October 2000 with initial funding by telecommunications semiconductor products provider PMC-Sierra, LCI has raised a total of $12 million. Also participating in this latest round is Commonwealth Venture Partners, the Emerging Alliance Fund managed by VentureTech Alliance LLC, an affiliate of Taiwan Semiconductor Manufacturing Co. (TSMC) (Quote), and PMC-Sierra.
LCI's mission is to be a supplier of standards-based semiconductor technology, reference designs, and support software for the next-generation of networking equipment with a principal focus in emulation of non-IP protocols over packet-switched infrastructures such as MPLS, Optical Ethernet, Resilient Packet Ring, and IP.
"We know the next-generation networking fabric will be based on packet-switched technologies such as Optical Ethernet, MPLS, and Resilient Packet Ring," said Tom Johnson, founder and chief technology officer (CTO), Litchfield Communications. "But these high-speed packet-switched networks will need to interface with and transport legacy traffic formats such as Frame Relay, ATM, and TDM."
"At LCI, we're currently developing a family of semiconductor products to address the emerging need for a seamless interface between networks. We look forward to working with our experienced group of investors as we enter this important stage of growth for the company," he said.
Dave Furneaux, managing general partner at Kodiak Venture Partners, will serve as LCI's executive chairman. Also joining the Board of LCI are Mike O'Neill, partner at Kodiak Venture Partners and Justin Perreault, general partner at Commonwealth Capital.
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