HyperLight, a provider of thin-film lithium niobate (TFLN) photonic integrated circuits (PICs), has secured a $37 million Series B investment led by Summit Partners.
The latest funding round includes participation from existing investors Xora Innovation, a deep tech venture fund backed by Temasek, and Foothill Ventures.
Peter Chung, managing director and CEO of Summit Partners, will join HyperLight’s Board of Directors.
HyperEdge is trying to solve the optical industry’s need to accommodate the ongoing need for more bandwidth and greater power efficiency, accelerated by AI. According to the company, it wants to overcome the performance limitations of the current generation of PICs that leverage materials that have become bottlenecks for high-performance optical communication.
The company claims that its TFLN Tx PICs can achieve up to 40% power savings at the system level. Also, the patented TFLN PIC designs enable simultaneous CMOS-level voltage, 200 GBd symbol rate, and low insertion loss at high production volumes.
Being a young upstart company, getting this funding round is essential to enable it to enhance product production. Moreover, Summit Partners has a long pedigree of investments in the optical networking industry, including E-TEK Dynamics, Finisar, MACOM and Acacia Communications.
“This financing round, supported by investors with demonstrated experience in the photonics industry, will enhance our ability to serve our customers' current and future needs as a trusted innovation partner,” said Mian Zhang, president and CEO of HyperLight.
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