Optical communications co ColorChip raises $17m
The Israeli company's products help datacom manage all of the exponentially growing traffic on the Internet.
Israeli optical communications company ColorChip has raised $17 million led by the CIRTech venture capital fund. This completes a financing round of $37 million began last year when the company announced it had raised $20 million. The funds will help scale up production and support the expansion of marketing worldwide.
Founded in 2001 by Dr. Shimon Eckhouse and Prof. Shlomo Rushin of Tel Aviv University School of Engineering, the Yokneam based company has raised $97 million including $62 million over the past 18 months. ColorChip's CEO is Yigal Ezra.
ColorChip is a privately held Israeli company that provides cost effective, dense, hyper-scale transceivers and advanced optical splitters. 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 datacom manage all of the exponentially growing traffic. ColorChip’s innovative optical communication solutions are well positioned to help solve the growing bandwidth demand of the web.