Israel: DustPhotonics raises $24 million in new funding round

Feb 22, 2024 | Posted by Abdul-Rahman Oladimeji

Silicon photonics company DustPhotonics has raised $24 million in a Series B follow-on funding round. This funding came from both new and existing investors, including Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures. The company revealed in a statement that the funding would be used to scale up production of its Carmel-4 and Carmel-8 products, used for 400Gbps and 800Gbps applications, and accelerate the development of its next-generation products which will enable 1.6Tbps applications.

"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," said Ronnen Lovinger, CEO of DustPhotonics. "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, 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 further grow their position as a leader for next-generation merchant silicon photonics products."