Israeli optical transceiver and component developer ColorChip has raised $25 million to further development of products based on its SystemOnGlass photonic integration technology. Israel Growth Partners (IPG) led the funding round, which also saw participation from Vintage Investment Partners and existing investors Gemini Israel Funds and BRM Group.
IGP General Partner Haim Shani will join the ColorChip board of directors as part of the deal.
The new round brings to $60 million the amount of funding the company has attracted (see, for example, "ColorChip closes $9.5M financing round" and "ColorChip raises $7.4 million").
Founded in 2001, ColorChip has made a name for itself with the SystemOnGlass approach, which uses glass as a wafer material to create integrated optical subassemblies (see "PLC development gets active"). It owns and operates its own fab to produce its wafers.
The company first attacked the fiber to the premises (FTTP) space with splitters and transceivers (see, for example, "ColorChip intros FTTx splitters" and "ColorChip releases new Meteor transceivers"). It dropped the FTTP transceiver line in favor of a focus on data center requirements, where it has been quick to market with optical transceivers in QSFP family form factors (see "ColorChip unveils DragonFly 40G LR QSFP transceiver" and "ColorChip demos 100GBASE QSFP28 iLR4 CWDM transceiver").
"ColorChip is currently in high-growth mode, with production expected to increase 15 times in the next 24 months," said ColorChip CEO Yigal Ezra. "We are already serving top-tier customers in the U.S. and China, and this new funding will support our efforts to scale further and meet the accelerating demands of the market."
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Stephen Hardy | Editorial Director and Associate Publisher
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