Xinex Networks Inc, New Westminster, British Columbia has raised $7m in venture funding with a placing of 5m special warrants at $1.40 a time, with Yorkton Securities Inc of Toronto as the placing agent. The proceeds will be used to fund Xinex’s development of the Telan product line, a multimedia communications system that will integrate the functionality of a PABX and a local area network to provide bandwidth on demand and allow the transmission of integrated speech, voice, data and video over a single network using the Asynchronous Transfer Mode standard 53-byte cell structure. The initial release of Telan will transfer data at 25Mbps.
