Startup Tibit Completes $25 Million Series B Funding Led by Intel Capital

Kelvion New Plate Heat Exchanger

Richard Stanfield
“We are pleased with the caliber of investors we have attracted to invest in our revolutionary pluggable PON technology,” said Richard Stanfield, President and CEO of Tibit.

Tibit Communications, a Petaluma, CA based startup developing “next-generation” access devices for Passive Optical Networking (PON), has announced the completion of a Series B funding led by Intel Capital. The new funding round includes two new investors – Swisscom Ventures and AJU IB Investment. 

Tibit’s MicroPlug OLT (Optical Line Terminal) solution would be a revolutionary departure from legacy fiber access solutions, that are traditionally part of large, proprietary chassis with multiple internal switching layers.

“We are pleased with the caliber of investors we have attracted to invest in our revolutionary pluggable PON technology,” said Richard Stanfield, President and CEO of Tibit. “This includes the Series B participation of Tibit’s existing investors, Intel Capital’s lead role in this round, and now the entry of the investment arm of global telecommunications leader Swisscom Ventures and Korea’s leading venture capital investor AJU IB Investment.”

OLT Equipment

According to AJU IB Investment executive Michael Jeon, “Tibit creates data center economics for the PON access market by making PON a simple Ethernet component and a catalog item for Ethernet switch suppliers for markets like Korea that are pioneering next-generation broadband speeds.”

Tibit fits all PON Layer 1 and 2 functionality inside the space of a transceiver optics case that plugs “neatly” into standards-based, commercially-available switches. This would allow carriers a flexible and cost-effective deployment for fiber access. The elimination of unnecessary management layers within the OLT equipment itself would further enable PON management to be virtualized and moved into the carrier’s cloud architecture.

– read more below the image –

Tibit MicroPlug

“Tibit’s MicroPlug OLT and cloud-based management solutions disrupt the PON market in specifically the areas that carriers are looking to unlock on their networks – interoperability, solution disaggregation, and network virtualization,” said Pär Lange of Swisscom Ventures. “We see their solution as uniquely positioned to help carriers enable next-generation architectures for access and management solutions.”

“The Tibit MicroPlug technology is a great example of the power of virtualization,” said Dave Flanagan, vice president of Intel and senior managing director of Intel Capital. “It provides more flexibility, higher density and lower cost by deploying PON in general-purpose Ethernet switching equipment and management solutions, which can be entirely virtualized on Intel processor-based servers.”