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Sequel Venture Partners and Grotech Capital Group Co-lead
Investment That Funds Introduction of Innovative
Telecommunications Equipment
Aztek
Networks, a leading provider of Emergency Stand alone switching
and IP gateway products, recently announced the closing of $6.6
million in Series A funding.
The financing, co-led by Sequel Venture Partners and Grotech
Capital Group, will fund development and introduction of the
company's innovative Remote Switch Gateway product line. The
Telecommunications Development Fund also participated in the
round. Tim Connor, partner with Sequel Venture Partners, and
Joseph Zell, general partner with Grotech Capital Group, will
join Aztek Networks' Board of Directors.
Aztek Networks' Remote Switch Gateway is an IP media gateway and
True Emergency Stand Alone switch. True ESA is a unique,
patent-pending method for constantly maintaining subscriber
dial-tone and calling access to emergency 911 services in a
purpose built, high availability hardware system that is
deployable in a field cabinet. Aztek Networks is the only
provider of IP media gateway products using True ESA. The Remote
Switch Gateway family of products will roll out in early spring.
"Aztek
has created a truly exciting and enterprising new product line
in the Remote Switch Gateway. These products will provide
service providers with a path to evolve their networks to IP and
bring more reliable voice and 911 services to communities in
emergency situations," said Tim Connor, partner, Sequel Venture
Partners.
"We believe in Aztek Networks' mission and its products. We are
pleased to invest in a company that is providing a critical
service, especially to remote locations, in the unique and
dependable True ESA system. We are confident independent telecom
service providers will embrace the company's products and are
excited to be a partner in building the company," said Joseph
Zell, general partner, Grotech Capital Group.
"Moving forward with strong backing from our investors, we are
poised to take this company to the next stage," said Steven
Bruny, CEO of Aztek Networks. "We are delighted to have Tim and
Joe join our Board of Directors and believe their experience and
strategic insight will be critical in developing our company and
products."
The Remote Switch Gateway with True ESA is a high availability,
environmentally hardened and fault tolerant hardware system. All
Remote Switch Gateway products are IP ready, allowing service
providers to seamlessly migrate their network to IP while
preserving network reliability. Aztek Networks is the only
vendor that can link access systems from multiple vendors, via a
GR-303 interface, into a True ESA community at the field cabinet
level. |