DustPhotonics Secures $24M in Series B Funding for Silicon Photonics Technology
February 22, 2024, 7:19 am
DustPhotonics, a leading developer of silicon photonics technology for data center and AI applications, recently closed a successful Series B follow-on funding round, raising an impressive $24 million. The funding, oversubscribed and led by a mix of new and existing investors including Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures, signifies a strong vote of confidence in the company's innovative technology and future growth prospects.
The investment will enable DustPhotonics to ramp up production of its Carmel-4 and Carmel-8 products, designed for 400Gb/s and 800Gb/s applications, as well as accelerate the development of new products capable of supporting 1.6Tb/s applications. CEO Ronnen Lovinger expressed gratitude for the continued support of existing investors and welcomed new partners to join the company on its journey forward.
Chairman Avigdor Willenz commended the team's successful transition to a silicon photonics chip company and highlighted their achievements in technology, product development, and business growth. With a focus on the fast-growing AI compute market, DustPhotonics has positioned itself as a leader in the industry, attracting attention for its cutting-edge technology and strong customer relationships.
Investors such as Sienna Venture Capital and Greenfield Partners emphasized the company's potential for growth and innovation in the silicon photonics space, recognizing the significance of DustPhotonics' contributions to the evolving demands of data centers driven by AI applications. The company's technology platform offers significant improvements in bandwidth, speed, cost efficiency, and power consumption, catering to the specific needs of the optical networking market.
As DustPhotonics continues to make strides in the development of next-generation silicon photonics products, the industry eagerly anticipates the impact of their innovations on AI and hyperscale data centers. With a dedicated team and a clear vision for the future, DustPhotonics is poised to solidify its position as a key player in the advancement of silicon photonics technology.
For more updates on groundbreaking startups and emerging technologies, stay tuned for the latest news and insights from the dynamic world of innovation and entrepreneurship.
The investment will enable DustPhotonics to ramp up production of its Carmel-4 and Carmel-8 products, designed for 400Gb/s and 800Gb/s applications, as well as accelerate the development of new products capable of supporting 1.6Tb/s applications. CEO Ronnen Lovinger expressed gratitude for the continued support of existing investors and welcomed new partners to join the company on its journey forward.
Chairman Avigdor Willenz commended the team's successful transition to a silicon photonics chip company and highlighted their achievements in technology, product development, and business growth. With a focus on the fast-growing AI compute market, DustPhotonics has positioned itself as a leader in the industry, attracting attention for its cutting-edge technology and strong customer relationships.
Investors such as Sienna Venture Capital and Greenfield Partners emphasized the company's potential for growth and innovation in the silicon photonics space, recognizing the significance of DustPhotonics' contributions to the evolving demands of data centers driven by AI applications. The company's technology platform offers significant improvements in bandwidth, speed, cost efficiency, and power consumption, catering to the specific needs of the optical networking market.
As DustPhotonics continues to make strides in the development of next-generation silicon photonics products, the industry eagerly anticipates the impact of their innovations on AI and hyperscale data centers. With a dedicated team and a clear vision for the future, DustPhotonics is poised to solidify its position as a key player in the advancement of silicon photonics technology.
For more updates on groundbreaking startups and emerging technologies, stay tuned for the latest news and insights from the dynamic world of innovation and entrepreneurship.