Lod, Israel – Sep 29, 2021 – Ethernity Networks (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable hardware for accelerating telco/cloud networks, announced today that it has successfully raised $6.2 million on the AIM market of the London Stock Exchange.
As Ethernity continues to implement its strategy of becoming a supplier of customized and differentiated system solutions, the fundraising will serve to position the Company in a stronger position for the next stage of its development and growth. The success of the fundraising has strategically positioned Ethernity to meet its strategic objectives beyond 2022 and to confidently pursue new customer engagements and contracts to expand the market penetration for its 5G offerings.
Ethernity CEO David Levi said: “We were pleased to report in our interim results, in August 2021, that the Company was funded through 2022 to meet its operational requirements and contracts in hand, which position had not changed leading into this fundraising. As Ethernity continues to implement its new proven strategy as a supplier of customized and differentiated system solutions, the fundraising allows the Company to be financially positioned for the next stage of its development and growth with significantly larger customers, and to service expected mass deployment growth on anticipated new contracts from the end of 2022 onward.”
About Ethernity Networks
Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity’s FPGA logic offers complete Carrier Ethernet Switch Router data plane processing and control software with a rich set of networking features, robust security, and a wide range of virtual function accelerations to optimize telecommunications networks. Ethernity’s complete solutions quickly adapt to customers’ changing needs, improving time-to-market and facilitating the deployment of 5G, edge computing, and NFV.