Tibit Communications, a Petaluma, CA based start-up developing next-generation access devices for Passive Optical Networking (PON), announced a Series B investment of $20 million led by Intel Capital.
Founded in 2014, Tibit has introduced a fundamental change to the architecture and economics of PON solutions. Tibit's MicroPlug OLT (Optical Line Terminal) is the world's first pluggable OLT.
The financing will be used to fund Tibit's market expansion as the company prepares to commercially deploy its flagship product, the Tibit MicroPlug OLT, and to accelerate R&D work on additional pluggable PON innovations planned for release later this year.
Tibit's MicroPlug OLT is a complete network access device for 10-Gigabit optical networking that reduces the amount of application-specific hardware needed for network deployments.