IRVINE, Calif. (ChipWire) -- LAN/WAN chip start-up NewPort Communications Inc. announced yesterday it has received second-round financing of $23 million, bringing the total
capitalization for the company to $28 million.
The supplier of SONET/SDH-based chips received the
funds from a number of high-profile investors, including Bessemer, Cisco
Systems, Integral Capital Partners, Lucent Venture Partners, Mayfield
Fund, Sumitomo, and Vertex.
NewPort will use the funds to beef up its product porfolio and expand its
workforce, according to Joe Vithayathil, vice president of marketing and
Last year, the company rolled out its first product-the world's first
CMOS-based transceiver for 2.5-Gbit/s applications.