Intune Networks, the Dublin based telecoms equipment supplier, today announced that it has secured €17.5 million in its most recent funding round. This round, following on from previous investments, brings the total funding the company has secured in the last 5 years to in excess of €60 million, making it one of the largest private equity investments in the global telecoms equipment sector in recent years. The funds raised will be used to support the company through customer trials in 2012 and to strengthen its presence in regions close to its early customer base.
Ian Jenks, Intune Networks’ Chairman stated, “Through in depth interactions with telecoms industry leaders over the past number of years we have validated the tremendous global opportunities for Intune to revolutionise the next generation of telecoms networks. The company is now fully resourced and sufficiently funded to take advantage of these opportunities; to support our global trials next year and to cement our leadership in markets where we are already established, in addition to exploring new geographies.”
Barry Maloney, Balderton Capital commented,“It’s a testament to the strength and potential of Intune Network’s technology that it has successfully raised funds in the difficult economic climate of the last 5 years. We are very excited about the next 18 months for Intune Networks as it rolls out its highly innovative telecommunications technology following more than ten years of research and development.”