DustPhotonics Raises $24M in Series B Follow-on Round

DustPhotonics Ramping-up Silicon Photonics Products Targeting Data Center and AI Applications

MODI'IN, Israel, Feb. 21, 2024 /PRNewswire/ -- DustPhotonics, a leading developer of silicon photonics technology for data center and AI applications, today announced the completion of its Series B follow-on funding round, an oversubscribed round of $24M. The round was funded by a combination of prominent investors, including new and existing investors such as Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures.

The funds will be used to allow DustPhotonics to scale production of its industry leading Carmel-4 and Carmel-8 products, used for 400Gb/s and 800Gb/s applications and to accelerate development of its next generation products which will enable 1.6Tb/s applications.

"We looked at innovative technologies supporting the fast-growing AI compute market, and DustPhotonics stood out as a leader in this market due to their technology and customer traction," said Isabelle Amiel-Azoulai, Founding Partner at Sienna Venture Capital. "We are excited by the customer agreements and backlog that the DustPhotonics team has generated with its Carmel-4 and Carmel-8 products, and look forward to working with the DustPhotonics team to help the company in this next growth phase."

"Greenfield Partners is excited to continue to support DustPhotonics in this upcoming phase of growth, on the back of strong execution by the DustPhotonics team across both product innovation and commercial wins," said Yuda Doron, Managing Partner at Greenfield Partners. "We continue to be firm believers in the prospect of silicon photonics becoming a key enabler for data centers to meet the increasingly demanding requirements brought upon by AI, as demonstrated by the company's recent momentum."

"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."

"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", said Avigdor Willenz, Chairman of DustPhotonics. "I believe their upcoming innovations will allow them to further grow their position as a leader for next generation merchant silicon photonics products."

About DustPhotonics

DustPhotonics is a leading developer of silicon photonics technology for hyperscale data center and AI applications. The DustPhotonics technology platform is uniquely built to meet the requirements of the optical networking market, offering significant improvements in bandwidth and speeds while lowering costs and power consumption. Please visit www.dustphotonics.com for more information.

For more information, please contact:
DustPhotonics, Ltd.
Yossi Lev
+972-73-3982552
[email protected]

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SOURCE DustPhotonics