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Traxyl Raises $5 Million In Oversubscribed Seed Round Led By Draper Associates

Oct 13, 2022•almost 3 years ago

Amount Raised

$5 Million

Round Type

seed

Gainesville

Description

TRAXyL, Inc., an industry disrupter in the optical fiber installation industry, today announced the closing of an oversubscribed $5 million series seed funding round led by Draper Associates, a global venture capital firm investing in industry-transforming companies. TRAXyL expects to use the net proceeds of its financing to further develop its minimally disruptive fiber-optic installation technology, manufacture additional installation equipment to meet customer demand, and grow its team.

Company Information

Company

TRAXyL, Inc.

Location

7669 LIMESTONE DR.

Gainesville, Florida, United States

About

Headquartered in Gainesville, Virginia, TRAXyL has developed a new technique for installing optical fiber. TRAXyL's patented FiberTRAX technology provides a minimally disruptive method of installing industry-leading, high-speed fiber optic communication lines directly onto paved surfaces, encased in low-profile, durable 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. FiberTRAX is installed using a TRAXyL-developed TRAXtor machine, which is operated by TRAXyL personnel or leased to authorized distributors and installers. Please visit www.traxyl.com for more information.

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