LONDON IPtronics A/S (Roskilde, Denmark), a start up focusing on silicon for parallel optical applications, has closed a Series B round worth $ 10.25 million, to be used for further developments of its technology and expansion of global sales.
The round was led by Creandum and Sunstone Capital, with participation from existing venture capital investor 10IPT10, as well as members of the management team.
The market for parallel optical interconnects, devices that are forecasted to replace electrical high speed connections in next generation computer systems and storage networks, is growing fast, the company says.
Founded in 2003 by a group of former Giga A/S and Intel Corp. managers, IPtronics has developed a chip technology that enables small, low cost, low power optical interconnect systems that computer manufactures are beginning to adopt to overcome the physical constraints from using copper-based connections over high speed interfaces and backplanes.
IPtronics is already supplying a 4-channel chipset that it claims lowers the power consumption of optical interconnections by a factor of four.
It plans to start sampling later this year a 12-channel device that it will be demonstrating at next week's OFC in San Diego, California.