Tibit Communications, a Petaluma, CA based start-up developing next-generation access devices for Passive Optical Networking (PON), announces the completion of the Series B funding led by Intel Capital and including two new investors – Swisscom Ventures and AJU IB Investment.
Tibit's MicroPlug OLT (Optical Line Terminal) solution is a revolutionary departure from legacy fiber access solutions, that are traditionally part of large, proprietary chassis with multiple internal switching layers.
Tibit fits all PON Layer 1 and 2 functionality inside the space of a transceiver optics case that plugs neatly into standards-based, commercially-available switches. This allows carriers a very flexible and cost-effective deployment for fiber access. The elimination of unnecessary management layers within the OLT equipment itself further enables PON management to be virtualized and moved into the carrier's cloud architecture.
Par Lange of Swisscom Ventures
Tibit's MicroPlug OLT and cloud-based management solutions disrupt the PON market in specifically the areas that carriers are looking to unlock on their networks – interoperability, solution disaggregation, and network virtualization.
Richard Stanfield, President and CEO, Tibit
This includes the Series B participation of Tibit's existing investors, Intel Capital's lead role in this round, and now the entry of the investment arm of global telecommunications leader Swisscom Ventures and Korea's leading venture capital investor AJU IB Investment.
