Redwood City, CA-based ASSIA, Inc., a provider of software tools for Dynamic Spectrum Management (DSM) of Digital Subscriber Line (DSL) networks, has secured $10m in strategic investment financing.
New investors Mingly China Growth Fund and SFR Development joined previous investors Swisscom Ventures, Stanford University, and T-Venture.
Commenting on the financing, Jim Boettcher, private investor and a general partner at Focus Ventures in Palo Alto, said: “This infusion of $10m additional capital reflects the strength of ASSIA’s business plan and product offering, despite the troubled economic climate. It is a rare accomplishment to attract this kind of attention and funding in present economic conditions”.
As stated by David Xu, Mingly China Growth Fund Managing Partner: “Mingly wants to share in and help promote the growth of ASSIA’s emerging large business opportunity in China”.