TRAXyL Raises $5M in Seed Funding
Summary
The round was led by Draper Associates with participation from In-Q-Tel. Led by CEO Daniel Turner, and COO Stephen Carter, TRAXyL has developed patented FiberTRAX technology, which provides a minimally disruptive method of installing fiber optic communication lines directly onto paved surfaces, encased in protective coatings. This technology has been proven to reduce lead times, installation and maintenance costs, and disruptions to surrounding areas, in connection with the installation of new fiber optic lines. In addition to closing its seed round, the company also announced a strategic investment and product development agreement with In-Q-Tel, Inc., the non-profit strategic investor that identifies cutting-edge technologies to advance and enhance the national security capabilities for the U.S. and its allies. This agreement will accelerate the development of its flush-mount fiber optic installation technology.