Innovium, a US-based developer of data centre network infrastructure technology, raised $170m yesterday from investors including Qualcomm Ventures, the corporate venturing subsidiary of mobile chipmaker Qualcomm.
Premji Invest, DFJ Growth, Greylock Partners, Capricorn Investment Group, WRVI Capital, Redline Capital, S-Cubed Capital and DAG Ventures also contributed to the round together with funds and accounts managed by BlackRock, and undisclosed additional investors.
Innovium has developed networking technology for data centres that are powering cloud and edge applications. Its Teralynx software and scalable switches can handle data transfer speeds of up to 25.6 terabits per second and offers low latency as well as real-time analytics.
The funding is expected to sustain the company for several years, while also driving research and development activities and helping to ensure long-term custom from its clients.
Qualcomm Ventures has been an investor in Innovium since its series A round. Both its series A and B rounds were raised in 2015 but were only announced the following year, when the total for the two transactions was revealed to be $50m.
The the company’s series A round was co-led by Walden Riverwood Ventures and Capricorn, and also featured S-Cubed Capital. All three returned together with Qualcomm Ventures to participate in a Greylock-led series B the same year.
Greylock led a $38.3m series C round for Innovium in 2017, with contributions from Qualcomm Ventures, Walden Riverwood, Capricorn and S-Cubed Capital. All the series C particpants returned in April 2018 for a $77m series D round that included Paxion Capital and Walden’s Everbright fund.
