ColorChip lands $25M in growth funding
Integrated optical components vendor ColorChip has raised $25 million in growth-funding to scale up its operations and accelerate its product roadmap.
Founded in 2001, ColorChip is a privately held Israeli company that provides high-density transceivers and advanced optical splitters aimed at the hyper-scale data centre market.
The round was led by Israel Growth Partners (IGP), a tech-focused growth equity fund, with participation from Vintage Investment Partners, and existing investors Gemini Israeli Funds and BRM Group. To date, the company has raised $60 million with Gemini and BRM leading the previous rounds.
“ColorChip is currently in high-growth mode, with production expected to increase 15 times in the next 24 months. We are already serving top-tier customers in the US and China, and this new funding will support our efforts to scale further and meet the accelerating demands of the market,” said ColorChip CEO, Yigal Ezra.
The technology developed by ColorChip, called ‘SystemOnGlass’, can be used to create hybrid optical integrated circuits from glass wafers – a process intended to bring efficiencies commonly only seen in semiconductor fabrication to the world of optical communications.
ColorChip is a vertically integrated manufacturer of optical assemblies with a fabrication facility in Israel. The fab is a critical component of its core technology, positioning the company as a leader in the industrialised manufacture of optical assemblies.
ColorChip also welcomed Haim Shani, IGP co-founder and general partner, to its board of directors.
“We are excited to partner with ColorChip. We believe that ColorChip’s unique inter-disciplinary optical and networking technology addresses a major pain in an industry that is experiencing exploding bandwidth and speed demands and is looking for breakthrough innovations,” said Haim Shani, Co-founder and general partner at IGP. “IGP believes that ColorChip’s technology provides a unique opportunity to better serve the growing demands of the datacom market and this round will enable the company to scale its operations to meet those demands.”