Dublin-based Intune Networks, a telecoms equipment supplier, has secured $32.5m in its latest funding round.
Investment vehicle Dermot Desmond and Venture capital firm Kernel Capital led the round with participation from existing investors Balderton, Amadeus, Spark Capital as well as long term private investors. In addition, Enterprise Ireland and Invest Northern Ireland supported Intune’s growth in Dublin and Belfast respectively.
As stated by Tim Fritzley, CEO of Intune Networks, “The funding will be used for the full commercial product launch in mid 2010, as well as for expanding market coverage beyond the European carriers on into North America and Asia”.
Founded in Dublin in 1999, Intune Networks currently employs 120 people and has design centres in Dublin and Belfast.