MODIIN, Israel, Oct. 28, 2021 /PRNewswire/ -- DustPhotonics, a leading developer of silicon photonics technology and solutions, announced today a new investment and corporate reorganization to align with new business opportunities and corporate strategy. This investment, totalling $33 million, was led by Greenfield Partners, who join DustPhotonics' Round B investors Intel Capital, veteran entrepreneur Avigdor Willenz, and others. In addition, the company also announced it has completed an organizational realignment to support its strategic and business direction. The company will focus its resources on silicon photonics solutions and phase out its Transceivers product line. As part of this move, Ronnen Lovinger, president of DustPhotonics, has assumed the role of CEO. Ben Rubovitch, the company's previous CEO, has stepped down and will lead the Business side of the company.
The development and production of silicon photonics solutions has increased in complexity in recent years, driven by exponentially growing data rates with every successive generation. DustPhotonics focuses on developing scalable, high density, lower power and higher reliability technologies to meet these needs. The company's InP Laser to Silicon Photonics integration technology will provide significant value differentiation enabling superior performance to support 800 Gb/s, 1.6Tb/s, CPO and future products.
"This latest investment and the organizational changes will enable us to take advantage of new business opportunities and to continue focusing on serving our customers' strategic requirements. Our disruptive silicon photonics technology addresses their key and most challenging problems, creating scalable, cost-effective silicon photonics and driving it as the mainstream solution for the Cloud and Telecom markets," said Ronnen Lovinger, CEO of DustPhotonics. "We are thrilled at the continued confidence of our investors in our strategic direction."
"With the rapid evolution of the connectivity and silicon optics markets, there is a growing need for innovative technologies. DustPhotonics is well positioned at the forefront of silicon photonics technology development and we are excited to take part in their journey," said Yuda Doron, Managing Partner at Greenfield Partners.
DustPhotonics develops silicon photonics solutions for Cloud, data center, enterprise and HPC applications. Its innovative products and technology, such as Laser integration into Silicon, are targeted at enabling the next generation of optical modules and connectivity. DustPhotonics was founded in 2017 with offices in Modi'in, Israel and Cupertino, California. For more information, visit www.dustphotonics.com or contact [email protected].
About Greenfield Partners
Greenfield Partners is an Israel-based investment firm focused on exceptional early growth stage technology and tech-enabled businesses. With a dual presence in Tel Aviv and New York, the Greenfield team fuses investment and operating experience, deep local Israeli roots, and an expansive global network to support entrepreneurs in their quest to build thriving technology companies.