The round was led by Israel Growth Partners with participation from Vintage Investment Partners, and existing investors Gemini Israeli Funds and BRM Group. IGP General Partner Haim Shani will be joining the ColorChip Board of Directors. To date, the company has raised $60M with Gemini and BRM leading the previous rounds.
With Internet services becoming more data intensive due to streaming HD video, virtual reality, cloud computing, and IoT devices, there is a growing need for new technologies to help data-centers manage all of the exponentially growing traffic.
ColorChip has developed a hybrid optical integrated circuit based on a technology the company calls SystemOnGlass. ColorChip uses glass wafers for its optical devices, which it says allows it to bring efficiencies commonly only seen in semiconductor fabrication to the world of optical communications.
ColorChip not only develops its solutions but is also vertically integrated and manufactures its core technology in its wholly owned and operated state of the art fab in Israel. The fab utilizes the company’s unique IP and is a critical component of its core technology.
“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 U.S. 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.