Xelerated raises $13 million for fast networking chips
Xelerated, a maker of networking chip sets for carriers, has raised a $13 million round from its existing investors.
Sixth Swedish National Pension Fund led the round. Others included Accel Partners, Alta Partners, Amadeus Capital Partners and Atlas Ventures.
The company said in a news release that proceeds of the round will be used to develop its network processors and Ethernet switching chips. It will also expand sales and support overseas. The company’s chips are application-specific standard products, which can be customized for a number of different communications functions.
The Stockholm-based company has raised $93 million in venture capital since 2000. We previously wrote about a round in 2007.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.