IRELAND - Kernel and Dermot lead $33m Intune investment

Co-investing in the funding were existing backers Balderton Capital, Amadeus Capital Partners, Spark Capital, Enterprise Ireland, Invest Northern Ireland and private investors.

Dublin-based Intune has developed the Optical Packet Switch and Transport technology, which solves the problem of how to evolve network architectures to cope with the massive increase in upredictable traffic demand while sustaining profitability and controlling costs. The technology is expected to be available for deployment in 2010.

The company employs 120 people and has design centres in Dublin and Belfast.

The new funding will be used for the full commercial product launch in 2010, as well as for expanding market coverage beyond the European carriers into North America and Asia.

Amadeus and Spark Capital previously invested £17.7m into the company in August 2007.

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