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DustPhotonics Raises $24 Million in Series B Follow-on Round

DustPhotonics, a leading developer of silicon photonics technology for data center and AI applications, announced the completion of its Series B follow-on funding round, an oversubscribed round of $24M. The round was funded by a combination of prominent investors, including new and existing investors such as Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures.

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The funds will be used to allow to scale production of its industry leading Carmel-4 and Carmel-8 products, used for 400Gb/s and 800Gb/s applications and to accelerate development of its next generation products which will enable 1.6Tb/s applications.

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“We looked at innovative technologies supporting the fast-growing AI compute market, and DustPhotonics stood out as a leader in this market due to their technology and customer traction,” said Isabelle Amiel-Azoulai, Founding Partner at Sienna Venture Capital. “We are excited by the customer agreements and backlog that the DustPhotonics team has generated with its Carmel-4 and Carmel-8 products, and look forward to working with the DustPhotonics team to help the company in this next growth phase.”

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“Greenfield Partners is excited to continue to support DustPhotonics in this upcoming phase of growth, on the back of strong execution by the DustPhotonics team across both product innovation and commercial wins,” said Yuda Doron, Managing Partner at Greenfield Partners. “We continue to be firm believers in the prospect of silicon photonics becoming a key enabler for data centers to meet the increasingly demanding requirements brought upon by AI, as demonstrated by the company’s recent momentum.”

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About DustPhotonics

Founded in 2017, DustPhotonics provides a comprehensive technology platform for Silicon Photonics, and works with leading supply chain partners to enable high data rates, lower power, lower cost and high-volume scalability. Founded in 2017 with venture funding from leading private technology investors, headquartered in Modi’​in, Israel with business operations located in Cupertino, California.

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