ColorChip adds Alex Lazovsky to its Board along with raising $17m financing led by CIRTech fund

– ISRAEL, Yokneam – ColorChip, a leading optical transceiver innovator, announced today it has secured an additional $17 million as part of the recent round of financing, bringing the company’s last round to a total of $37M. The financing was led by CIRTech fund, a venture capital firm that invests across a range of technology sectors globally, joined by Scale-Up fund.

The new capital will be used to accelerate go-to-market initiatives, expand ColorChip’s manufacturing capabilities and fuel Research and Development. The company hired 100 additional team members in the past 12 months and additional 50 team members will be joining during 2017 to the operations and engineering groups, as well as to R&D, which will be releasing several products to the market in the course of the next two years.

Yigal Ezra, ColorChip’s CEO, said “that the space of web 2.0 and cloud providers is growing at an unprecedented rate and ColorChip solutions and roadmap are in high demand. The company is building capabilities to support mega data centers in the US and Asia, while developing next generation 400G solutions.“

Alex Lazovsky, Managing Partner at CIRTech Fund and Scale-Up joined ColorChip’s Board of Directors and said: “ColorChip’s optical transceiver solutions have been recognized for exceptional efficiency and reliability and are being deployed and trusted by leading mega data centers worldwide. The unique features of the SystemOnGlass™ architecture give ColorChip a clear advantage and pave its way to a leading position in this market.”

About ColorChip

ColorChip is a global provider of hyper-scale optical transceivers supporting the growing need for high-definition, video and data transmission in telecommunications, networking, cloud and storage applications. ColorChip was founded in 2001 and is headquartered in Yokne’am, Israel, where it’s fully owned, industrialized optics-based FAB is dedicated to the production of Planar Lightwave Circuit (PLC) platform and Top-Of-Rack Interconnect Optical Transceivers for datacenters and HPCs. ColorChip has a production facility in Thailand and offices in San Jose, California.

The patented waveguide-in-glass hybrid, multilane Photonic Integrated Circuit (PIC), named SystemOnGlass™, is at the heart of ColorChip’s high speed transceiver product line: the world’s first 40Gbps 10km QSFP+ transceiver, commercialized in 2010, 100Gbps 2km CWDM4/ CLR4 QSFP28 transceiver, commercialized in 2014 and 100Gbps 10km 4WDM QSFP28 transceiver, commercialized in 2016. SystemOnGlass™ platform is designed to scale and support data rates of 200Gbps, 400Gbps, 1Tbps and beyond.

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