Optical transceiver vendor ColorChip raises $20 million
Privately held Israel-based optical transceiver vendor ColorChip has announced receipt of $20 million in new growth-funding. The latest round, which follows a $25 million round last November (see "ColorChip lands $25 million in funding"), will be used to "ramp-up operations and drive an accelerated product roadmap," in the words of a company announcement. This activity includes hiring new employees in Israel, the U.S., and remote site facilities.Gemini Israel Funds, BRM Group, IGP, Vintage, HGL Capital, and Viola Credit participated in the last investment exercise. The company has raised $80 million since it was founded in 2001. IGP, Gemini, and BRM led the previous rounds.ColorChip hangs its hat on its SystemOnGlass technology, an approach to photonic integration that leads to creation of hybrid optical integrated circuits (see "PLC development gets active"). It has used the approach to create optical transceivers for PON and data center network applications, as well as optical splitters. It owns its own fab.The near-term focus for new product development appears to be the data center and related applications driven by webscale companies (see, for example, "ColorChip unveils QSFP28 optical transceiver for CWDM4/CLR4 applications")."ColorChip is delighted with its current funding round," said ColorChip CEO Yigal Ezra. "We have so much support and confidence from our investors and are going to utilize the funds to recruit additional employees as well as scale up our operations to better serve the growing demands of the datacom market."