Tehuti raises $4.2m

Alice Ventures led the round for Tehuti Networks, a fabless semiconductor company.

Fabless semiconductor company Tehuti Networks today announced the completion of a $4.2 million Series A financing round led by Alice Ventures, a new investor in the company. Tehuti Networks develops solutions-on-a-chip (SoC) for accelerating TCP/IP processing.

Previous investors Alice Lab and ProSeed Venture Capital Fund made follow-on investments. In addition, the Office of the Chief Scientist contributed funds.

Tehuti stated that the capital will be used to support customer traction by expanding the engineering, marketing and sales activities.

In recent years, the speed in Ethernet networks has increased faster than central processing unit (CPU) speeds. As a result, TCP/IP processing is quickly becoming a bottleneck in 1 Gigabit and 10 Gigabit Ethernet networks. Tehuti Networks’ network traffic accelerator (NTA) chips increase system performance up to five times and are easily integrated into new and existing platforms.

“Tehuti Networks has developed a unique approach to solving the TCP/IP processing problem that is becoming critical for many large enterprises,” said Miki Granski, chairman of the board for Tehuti Networks and CEO of investment firm Alice Lab, a partner in Alice Ventures.

Tehuti Networks CEO Arie Brish said, “The addition of our lead investor, Alice Ventures, shows a tremendous vote of confidence in Tehuti Networks and they will substantially extend our perspective and reach as we ramp our business from a development to product phase.”

Tehuti Networks has received funding from Alice Ventures, Alice Lab, Technion R&D Fund, ProSeed Venture Capital Fund, and Lachman Goldman Ventures and the Office of the Chief Scientist. Tehuti Networks has offices in Austin, Texas and Herzelia, Israel.

Milan-based Alice Ventures currently has Є170 million under management. Its partner, Alice Lab, is a technology incubator investing in the innovative technologies in Europe and Israel, specifically opportunities in the information and communication technology, and telecommunications sectors, providing them with technical support, hosting marketing and business counseling services.

Alice Lab directly contributes to the seed investment either alone or with other seed investors or business angels, to provide the financial resources needed to grow a sustainable. Alice Lab assigns each new project funds generally ranging from Є500,000 to Є1 million. The company maintains offices in Tel Aviv and Milan.

ProSeed Venture Capital Fund is an Israeli company dedicated primarily to investments in start-up companies.

Published by Globes [online], Israel business news - www.globes.co.il - on Sunday, June 05, 2005

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