Tejas Networks secures Rs 95 crore investment

Bangalore, Oct 18 Tejas Networks, an emerging leader in next-generation optical transport equipment, today announced that it had secured Rs 95 crore in new equity financing from 'Goldman Sachs'.

According to a company release here, the proceeds of the financing would be used to grow the business and invest in R and D for developing new products.

Company Co-founder and CEO Sanjay Nayak said, ''we are delighted to attract funding from a global blue-chip investor like Goldman Sachs.'' Over the last few years, Tejas had developed a portfolio of world-class products and had seen tremendous growth in business both in domestic as well as international markets.

''With a solid foundation in place, this was the right time to invest more aggressively and scale our business to the next level,'' he added.

UNI