LightSand Raises $7 Million, Acquires SANcastle

LightSand, a start-up based in Milpitas, California, raised $7 million in new funding to support its high-end Fibre-Channel over SONET, DWDM or direct fiber gateway products. The new funds will also be used for the acquisition of SANcastle Technologies, another start-up offering FCIP gateways and inter-fabric switch (AR/DAT) technology. SANcastle products and employees will be integrated into LightSand, which is headquartered in Milpitas, California. The Company will retain the LightSand name and will be headed by Philip Black, LightSand's current CEO. Investors in this round include Baring Equity Partners Asia, Concord Venture Partners, Fremont Ventures and Genesis Partners Group. SANcastle was based in Irving, Texas with R&D in Israel.
http://www.lightsand.com
http://www.sancastle.com