In addition, applications for subscribing without preferential rights have been received which equates to SEK 75m ($10.8m).
Our owners have shown significant belief in our business and it is satisfying that interest has been so great. SwitchCore now has the financial strength required to continue developing its sales activities and reach a positive results, said CEO Henric Isacsson in a statement.
It was last month that SwitchCore secured SEK 17.2m ($2.4m) through a directed issue of convertible debentures, and announced that it was seeking a further SEK 34.4m ($4.8m).
Lund-based SwitchCore develops, markets and sells integrated switching devices for high-speed data transmission within and between networks, particularly those running Gigabit Ethernet.
With its CXE chip architecture, SwitchCore addresses the issue of the bottlenecks that traditionally form when data is running through routers and switches, marketing its technology as an enabler of wire-speed routing.
With its HQ in Sweden and US marketing and sales offices in San Jose and Boston, SwitchCore uses subcontractors in Asia to manufacture its products, with an office in Singapore to manage production and distribution.
It presently offers two families of GbE switching devices, the Xpeedium and Xpeedium2 families, as well as the CXE-5000 multi-protocol content addressable memory chip for ultrahigh-speed address table look-ups. SwitchCore has been listed on the Stockholm exchange since 1999.
