The telecommunications firm made its second investment in IT and telecommunications equipment maker Ranovus, which raised $24m.
Ranovus, a Canada-based communication technology developer backed by telecommunications company Deutsche Telekom among others, has raised $24m in a series B financing round, the Ottowa Citizen reported on Wednesday.
Deutsche Telekom invested alongside Ontario Municipal Employees Retirement Systems, BDC Venture Capital, and Azure Capital Partners, all four having previously funded an $11m series A round for Ranovus in September 2013, and Export Development Canada, which participated as a new investor.
Ranovus produces interconnects for the telecommunications and IT sectors, and…
