DustPhotonics Raises $24 Million in Series B Follow-On Round

DustPhotonics Raises $24 Million in Series B Follow-On Round

By Staff Writer, 07 February 2024

DustPhotonics, a pioneer in silicon photonics technology catering to data center and AI applications, has successfully closed a Series B follow-on round, raising a substantial $24 million.

This financing round saw participation from both new and existing investors, including notable names such as Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures.

The injection of capital is poised to fuel the company's efforts in ramping up production of its flagship Carmel-4 and Carmel-8 products.

CEO of DustPhotonics, Ronnen Lovinger, expressed optimism about the company's trajectory, citing significant momentum in product adoption and an array of promising opportunities in AI and cloud service data centers.

Lovinger extended gratitude to the steadfast support of existing investors while warmly welcoming the newfound backing from fresh partners as the company forges ahead on its growth path.

DustPhotonics specializes in silicon photonics tailored for hyperscale data centers and AI applications, leveraging a platform meticulously engineered to cater to the evolving demands of the optical network landscape.

Their solutions boast enhanced bandwidth, accelerated speeds, and cost-effective operation, promising a paradigm shift in data transmission efficiency and power consumption reduction.

The infusion of funds is anticipated to expedite the development of cutting-edge products geared towards enabling 1.6Tb/s applications, setting new benchmarks in the industry.

Chairman of DustPhotonics, Avigdor Willenz, lauded the company's transition from a transceiver-centric entity to a dominant force in silicon photonics chip innovation.

Willenz commended the team's remarkable progress in technology advancements, product development, and business milestones, expressing confidence in their forthcoming innovations that are poised to solidify their leadership position in the realm of next-generation silicon photonics products.

Source: James Spiro / CTech

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