Israel-based a leading developer of silicon photonics technology for data center and AI applications, DustPhotonics, announced the completion of its Series B follow-on funding with USD 24 million. The oversubscribed round took place on February 21, 2024. New and existing investors such as Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures joined in the funding.
Purpose of financing for DustPhotonics
The latest financing allows DustPhotonics to scale up the production of its industry-leading Carmel-4 as well as Carmel-8 products. It also seeks to accelerate the development of its next-generation products, which will enable 1.6Tb/s applications.
What the officials of the company have to say
Ronnen Lovinger, CEO of DustPhotonics, said, “We are seeing a lot of design-win momentum with our products, and are excited by the new opportunities ahead in both AI and cloud service data centers. We are grateful to have a strong group of investors who have been supporting us from the early days, and are delighted to have new partners join our journey ahead.”
Avigdor Willenz, Chairman of DustPhotonics, further added, “Since undergoing the transition to a silicon photonics chip company from a transceiver company, I have seen the team at DustPhotonics do a tremendous job achieving their milestones on technology, products and business. I believe their upcoming innovations will allow them to grow their position as a leader for next-generation merchant silicon photonics products further.”
What the investors have to comment
Isabelle Amiel-Azoulai, Founding Partner at Sienna Venture Capital, said, “We looked at innovative technologies supporting the fast-growing AI compute market, and DustPhotonics stood out as a leader in this market due to their technology and customer traction. We are excited by the customer agreements and backlog that the DustPhotonics team has generated with its Carmel-4 and Carmel-8 products, and look forward to working with the DustPhotonics team to help the company in this next growth phase.”
In addition, Yuda Doron, Managing Partner at Greenfield Partners, commented, “Greenfield Partners is excited to continue to support DustPhotonics in this upcoming phase of growth on the back of strong execution by the DustPhotonics team across both product innovation and commercial wins. We continue to be firm believers in the prospect of silicon photonics becoming a key enabler for data centers to meet the increasingly demanding requirements brought upon by AI, as demonstrated by the company’s recent momentum.”
About the company
The company is a leading developer of silicon photonics technology for AI and hyperscale data centres. The DustPhotonics technology platform offers notable gains in bandwidth and speeds at a reduced cost and power consumption, specifically designed to satisfy the demands of the optical networking business.
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