AUSTIN, TEXAS - Advent Networks Inc., the company behind a proprietary cable architecture called "Ultraband," said it has raised $22.6 million in its second round of financing.
UtiliCorp United, Southern Union Co., Motorola Inc., Reliant Energy and Murphree Venture Partners headed the list of major investors, Advent said. Southern Union held an 11-percent stake in Advent from the previous round of financing.
Advent said it will use the new cash to further develop Ultraband, a "last-mile" platform designed to foster dedicated data speeds as high as 40 megabits per second.
It's no surprise to see UtiliCorp on that list. Everest Connections Inc., a UtiliCorp Communications Services partner, already has agreed to test Ultraband in Kansas City, Mo., early next year.
Weekly digest of streaming and OTT industry news
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.