China-based Centec Networks, a provider of Ethernet switching silicon and SDN white box solutions has raised $47 million via a Series E funding round led by China Integrated Circuit Industry Investment Fund (CICF) - a national fund established to help develop local integrated circuit technology companies. The company has raised $30 million in previous funding rounds.
Centec’s existing investor China Electronics Corporation (CEC) also participated in the funding round through its China Electronics Innovations, joining CICF
Founded in 2005 and led by James Sun as CEO, Centec plans to use the latest funding will be used to develop new products and to scale the company’s sales and marketing operations across the globe, especially North America.
Centec supports an open-networking strategy that has become increasingly popular among data centers, enterprises and carriers who want the most flexible and cost-effective path from 1GE to 10GE, 40GE and 100GE networking capabilities. The company claims that it has developed four generations of switching silicon, and has achieved double-digit quarterly growth for the past 3 years.
James Sun, CEO of Centec Networks
This funding round further establishes Centec as one of the top global sources of Ethernet switching silicon, and will enable us to meet growing product demand, accelerate innovation, and launch a new product family for the rapidly growing SDN white box market.
Lu Jun, President of SINO IC Capital (the official investment agency of CICF)
The prior investment from CEC brought rich business and marketing development resources to Centec, and we believe CICF’s investment will further strengthen the company’s position as it enters this next stage of rapid growth and market expansion.
