Ethernet co Ethos Networks raises $8 million

Ethernet switching technology start-up Ethos Networks Ltd. has closed its second financing round, raising $8 million from its existing investors - Evergreen Venture Partners and Vertex Venture Capital - and an international telecommunications company. Ethos has raised $16 million to date.

Ethos was founded in 2004 by CEO Dr. Yuval Davidor, Adam Dunsky, and CTO Hayim Porat. The company develops Ethernet protocol-based switches for metro networks. Its solution is designed to enable service providers to make significant savings in data network construction and operating costs. Ethos's technology gives providers greater flexibility when allocating their resources in real time and allows them to expand their product ranges.

Davidor said, "Ethos first identified three years ago the potential that lies in Ethernet protocol-based solutions, as well as the advantages of using them to provide advanced services. The product we have developed and brought onto the market enables these advantages to be applied in practice as an alternative to existing solutions. The finance we have just raised will enable us to make further investment in R&D, move forward market penetration, and commence sales and marketing activity."

Published by Globes [online], Israel business news - www.globes.co.il - on August 15, 2007