DustPhotonics Secures $24 Million in Series B Follow-on Round

DustPhotonics Secures $24 Million in Series B Follow-on Round

DustPhotonics, an Israeli startup specializing in silicon photonics for hyperscale data centers and AI applications, has successfully concluded a Series B follow-on funding round, amassing $24 million. The investment, oversubscribed, was led by a consortium of both new and existing investors, including Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures.

The company, headquartered in Modi’in, Israel, aims to utilize the raised capital to expand the production of its flagship products, Carmel-4 and Carmel-8, tailored for applications demanding speeds of 400Gb/s and 800Gb/s respectively. Moreover, the funds will fuel the acceleration of development initiatives for their forthcoming products, poised to support applications requiring speeds of up to 1.6Tb/s.

Commenting on this achievement, CEO Ronnen Lovinger expressed gratitude towards the investors, stating, “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.”

DustPhotonics has established itself as a frontrunner in the realm of silicon photonics technology. By catering to the evolving needs of the optical networking market, the company’s platform promises substantial enhancements in bandwidth and speeds, coupled with reduced costs and power consumption.

“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,” Lovinger further added.

Avigdor Willenz, Chairman of DustPhotonics, praised the company’s transition to a silicon photonics chip company, affirming, “I believe their upcoming innovations will allow them to further grow their position as a leader for next-generation merchant silicon photonics products.”

The sentiment echoed by Isabelle Amiel-Azoulai, Founding Partner at Sienna Venture Capital, highlights the recognition of DustPhotonics’ leadership in the fast-growing AI compute market. Yuda Doron, Managing Partner at Greenfield Partners, emphasized their confidence in silicon photonics as a pivotal enabler for data centers to meet the escalating demands posed by AI.

With this substantial funding injection, DustPhotonics is poised to fortify its position as a trailblazer in silicon photonics technology, setting the stage for further innovation and growth in the field.

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