US-based networking silicon technology developer Innovium secured $38.3m yesterday in a series C round featuring Qualcomm Ventures, the corporate venture capital unit formed by mobile semiconductor maker Qualcomm.
Venture capital and growth equity fund Redline Capital led the round, which included Greylock Partners, Walden Riverwood Ventures, Capricorn Investment Group and S-Cubed Capital.
Innovium produces a range of switching silicon products under the name of Teralynx for use in data centres.
The round, which took Innovium’s overall financing to approximately $90m, will be used to accelerate commercialisation of Teralynx products. Redline Capital CEO Tatiana Evtushenkova is joining its board of directors in conjunction with the funding.
The company disclosed in June 2016 that it had raised $50m across series A and B rounds that both included Qualcomm Ventures.
S-Cubed Capital, Walden Riverwood Ventures and Capricorn Investment Group all participated in the series A round before all four were joined by Greylock for the series B.
Rajiv Khemani, co-founder and chief executive of Innovium, said: “We are delighted to have Tatiana Evtushenkova join our BOD, and welcome a range of world leading entrepreneurs, executives and technologists across data cente infrastructure, semiconductor and software areas to our industry board.
“We look forward to drawing on their collective knowledge and experience as we reshape data centre networks.”