World Wide Packets Collects $25.2M in VC Funding
World Wide Packets collected $25.5 million from venture capitalists to expand sales of its fiber-optic equipment and software to municipalities and telecommunications carriers, the company said Saturday.
“We realized that the next generation of last-mile infrastructure was going to be built by municipalities and not carriers,” CEO Dave Curry said via telephone from a hotel in Provo, Utah.
Mr. Curry was in Provo to meet with that city’s mayor, who recently signed up World Wide Packets as part of a $40-million push to deliver fiber-optic broadband connectivity to its residents.
World Wide Packets is looking to pick up about $15 million from the deal over three years, Mr. Curry said.
posted by Fergie @ 12/04/2005 09:42:00 AM
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