HP, Nvidia back Ayar Labs’ $130 Million Series
Optical I/O startup Ayar Labs Inc. (Santa Clara, Calif.) has raised $130 million in a Series C round of financing. It will use the money to commercialize in-package optical I/O products.
The funding round was led by Boardman Bay Capital Management and included strategic investments from Hewlett Packard Enterprise and Nvidia. The last two have an obvious interest in impact of Ayar Labs’s technology on AI, high-performance computing, cloud computing and telecommunications.
These companies joined existing strategic investors Applied Ventures LLC, GlobalFoundries, Intel Capital, and Lockheed Martin Ventures. Other new investors participating in the round include Agave SPV, Atreides Capital, Berkeley Frontier Fund, IAG Capital Partners, Infinitum Capital, Nautilus Venture Partners, and Tyche Partners.
“We believe that silicon photonics-based optical interconnects in the data center and telecommunications markets represent a massive new opportunity and that Ayar Labs is the leader in this emerging space with proven technology, a fantastic team, and the right ecosystem partners and strategy,” said Will Graves, chief investment officer at Boardman Bay Capital Management, in a statement issued by Ayar Labs.
“The overall financing is much larger than we originally targeted, underscoring the market opportunity for optical I/O and Ayar Labs’ leadership position in silicon photonics-based interconnect solutions,” said Charles Wuischpard, CEO of Ayar Labs. “This financing allows us to fully qualify our solution against industry standards for quality and reliability and scale production starting this year.”
Ayar Labs also announced that it made its first volume commercial shipments under contract and expects to have shipped thousands of units of its in-package optical interconnect by end of 2022.
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