US-based networking technology producer Innovium secured $77m yesterday in a series D round that included mobile semiconductor technology provider Qualcomm, which invested through its Qualcomm Ventures subsidiary.
Venture capital firms Walden, which invested through its Walden Everbright and Walden Riverwood Ventures funds, Greylock Partners, investment managers Paxion Capital, Redline Capital, S-Cubed Capital and Capricorn Investment Group also took part in the round.
Innovium develops and supplies switching silicon equipment for use in data centres. It will use the funding to expand production of Teralynx, its range of optimised switches, and to advance its product pipeline.
The round boosted Innovium’s overall funding to approximately $165m. It raised $38.3m in a Redline Capital-led series C round backed by Qualcomm Ventures, Greylock, Walden Riverwood, Capricorn Investment and S-Cubed Capital in March 2017.
The company had already received $50m across a series A round featuring Qualcomm Ventures, S-Cubed Capital, Walden Riverwood and Capricorn Investment, and a series B that closed in 2016, in which the existing investors were joined by Greylock.
– Image courtesy of Innovium, Inc.