Caspian gets another $120 million in funding
 
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Caspian Networks, a start-up that claims it can solve looming congestion problems at the core of the Internet while enabling service quality guarantees, now has more than a quarter of a billion dollars in hand to continue development of its Apeiro IP Superswitch.
The company doesn't detail much about the switch, but it is reportedly in trials with major service providers. Its performance must be good enough to encourage investors, who this week came up with another $120 million in funding. These investors include U.S. Venture Partners, New Enterprise Associates, Merrill Lynch, Morgenthaler and Oak Investment Partners.
Total funding for the company now stands at $262 million.
Apeiro replaces terabit routers in service providers' existing networks to improve their performance. Otherwise, the Caspian gear does not require ripping out existing equipment, the company says.
Since starting the company three years ago, founder Lawrence Roberts has issued periodic reports on his measure of traffic growth at the core of the Internet. Roberts says growth is doubling or tripling every year, a rate that will soon outstrip the ability of the core routers his company hopes to replace.
Caspian plans to release details about Apeiro later this year.
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