IPtronics secures $6M funding to grow parallel optical interconnects business

Roskilde, Denmark—IPtronics, a fables semiconductor company building integrated circuits for parallel optical interconnects used in fiber-optic active optical cables and fiber-optic communications and data storage networks, secured $6 million dollars in follow-up funding from existing investors including private investor group 10IPT10 and venture capital funds Creandum and Sunstone Capital. The investment will be used to accelerate business development, to pursue new opportunities, and to strengthen IPtronics’ intellectual property portfolio and position.

"When making our initial investment in IPtronics a couple of years ago, we made the bet that parallel optics would soon become the interconnect option of choice in computers," said Jimmy Fussing Nielsen, a managing partner at Copenhagen-based Sunstone Capital. He added, "The pace at which this becomes true has been a pleasant surprise."

"The IPtronics’ team has in a short time built a leading position in the ‘active optical cables’ market and I expect that the team will executive as well on the new significant opportunities," said Martin Hauge, a general partner at Stockholm-based Creandum.

Operating as a relatively young company in a competitive market, IPtronics says that it has--thanks to its customer driven approach and highly competent analog design team--carved a position as the market leader in silicon for parallel optical interconnects.

SOURCE: IPtronics; www.iptronics.com/38220/IPtronics%20completes%20$6M%20funding%20to%20support%20new%20initiatives%20/