The financing will be used to fund Tibit's market expansion as the company prepares to commercially deploy its flagship product, the Tibit MicroPlug™ OLT [Optical Line Terminal], and to accelerate R&D work on additional pluggable PON innovations planned for release later this year.
Tibit's MicroPlug™ OLT is a complete network access device for 10-Gigabit optical networking that reduces the amount of application-specific hardware needed for network deployments.
Founded in 2014, Tibit Communications has introduced a fundamental change to the architecture and economics of PON systems, which has been mostly constrained to proprietary, chassis-mounted architectures available from only a few global vendors. Tibit's MicroPlug™ OLT is the first pluggable OLT. The standard-based SFP+ form factor allows their device to plug into almost any 10G switch port, greatly expanding architecture options for carriers. All this is enabled by the Tibit bridge ASIC, the smallest and lowest power 10G OLT chipset, which supports a rich feature set across both ITU-T and IEEE 10G PON standards.
"At Intel Capital, we look to invest in disruptors – and delivering broadband access via a standard Ethernet switch is highly disruptive," said Dave Flanagan, vice president of Intel Corp. and senior managing director of Intel Capital. "Instead of expensive dedicated hardware boxes with proprietary software tied to a single vendor, users can access a broadband onramp managed virtually from the cloud to the home or office. This enables significant savings of cost and power and opens market opportunities to innovation."