TRAXyL, a Gainesville, VA-based optical fiber installation company, raised $5M in Seed funding.
The round was led by Draper Associates with participation from In-Q-Tel.
The company intends to use the funds to further develop its fiber-optic installation technology, manufacture additional installation equipment, and grow its team.
Led by CEO Daniel Turner, and COO Stephen Carter, TRAXyL has developed patented FiberTRAX technology, which provides a minimally disruptive method of installing fiber optic communication lines directly onto paved surfaces, encased in protective coatings. This technology has been proven to reduce lead times, installation and maintenance costs, and disruptions to surrounding areas, in connection with the installation of new fiber optic lines. FiberTRAX is installed using a TRAXyL-developed TRAXtor machine, which is operated by the company’s personnel or leased to authorized distributors and installers.
In addition to closing its seed round, the company also announced a strategic investment and product development agreement with In-Q-Tel, Inc., the non-profit strategic investor that identifies cutting-edge technologies to advance and enhance the national security capabilities for the U.S. and its allies. This agreement will accelerate the development of its flush-mount fiber optic installation technology.
FinSMEs
14/10/2022