The company has also fired 25% of its employees.
Axerra Networks has raised $4.5 million. Axerra, which provides circuit emulation and service emulation solutions over packet access networks, describes itself as "the pseudo-wire company." Since its establishment the company has raised $48 million and investors include HarbourVest Partners LLC, Morgan Private Equity, Carmel Venturesand RAD Bynet Group Ltd., which set up Axerra. Other investors include JAFCO Co. Ltd., Garage Technology Ventures LLC., TLcom Capital LLP and angels Yehuda and Zohar Zisapel.
At the same time Axerra has implemented streamlining measures, including 15 layoffs, representing 25% of its workforce.
Axerra, established in 1999, can assist telecom companies in providing voice and data services over packet access networks even if they operate using relatively old equipment. According to IVC, Axerra had sales of $5 million in 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2008
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