Jungo Software Technologies Inc. Announces $7 Million in Strong Round of Venture and Strategic Financing

Jungo develops the residential gateway operating system called OpenRG - a Linux based software platform which enables Original Equipment Manufacturers (OEMs) to bring broadband Customer Premises Equipment (CPE) such as residential gateways, SOHO gateways and Integrated Access Devices (IADs) to market quickly. Jungo's OpenRG is embedded into DSL modems, cable modems and other broadband access devices to provide complete residential / SOHO gateways.

"We are pleased to receive this investment from Infineon Ventures and the Intel Communications Fund. The funding from these strategic investors will help Jungo focus on the market requirements and development," said Ofer Vilenski, president and CEO of Jungo. "We are also pleased to see TeleSoft Partners as a new member of the Jungo family. TeleSoft's focus and understanding of the telecommunications market will help Jungo strive for the market leader status. The investment capital will be used to help fund an expansion in our marketing and R&D efforts, enabling us to realize the potential of our current products and to carry out our roadmap."

"TeleSoft is excited to add Jungo to our portfolio of advanced technology companies focused on communications," said Arjun Gupta, TeleSoft's CEO. "We believe that Jungo's vision, coupled with its technological depth and abilities will enable Jungo to establish itself as a leading software platform vendor for broadband integrated access devices."

Jungo's plans for the funds include the continuing development of the software technologies and IAD products as per Jungo's roadmap, as well as ramping up the sales and marketing force that will help bring Jungo's products to wide market acceptance.

"We regard broadband access as one of the crucial segments within the communication market," said Michael Hochholzer, Investment Partner of Infineon Ventures. "We are excited about Jungo's technology providing a comprehensive residential gateway software platform enabling a variety of applications on a broad infrastructure spectrum."

"Jungo's software products are enablers for the broadband access market," said John Hull, Director of the Intel Communications Fund. "We welcome the opportunity to work with Jungo as both companies share a vision of providing the time and cost saving solutions to the broadband access market."

"Software-based solutions for residential gateways, such as those offered by Jungo, are increasingly important as a wide host of players - including hardware developers and service providers - are under pressure to reduce both their time-to-market and overall costs," said Kurt Scherf, vice president of research for Dallas-based Parks Associates. "This solution is part of the key to making a wider variety of services applicable to a growing number of users."