Switzerland-based fabless semiconductor technology provider Kandou Bus received $56m on Monday in a series C round featuring Swisscom Ventures, the corporate venturing unit owned by telecommunications firm Swisscom.
The round included Digital Transformation Fund, the $199m investment vehicle formed by Swisscom in July 2018, as well as Bessemer Venture Partners (BVP), Columbia Lake Partners, Fayerweather Capital Partners, Forestay Capital, Kreos Capital, Raging Capital and Walden International.
Founded in 2011, Kandou Bus is working on IT components that increase the speed and reliability of data transfer between devices while requiring minimal amounts of power.
The company initially focused on licensing its technology but now plans to launch a series of products for consumer applications that will include components for USB4, the standard of USB connectivity that will succeed USB-C and double its data transfer capacity in the process.
Kandou is advancing research by chief executive Amin Shokrollahi, a professor in Swiss university Ecole Polytechnique Fédérale de Lausanne’s Laboratory of Algorithmic Mathematics.
The funding will be used to scale all aspects of Kandou’s operations and extend the development and deployment of its products.
BVP and Walden International supplied $15m in series B funding for the company in July 2018, after BVP had invested $15m in 2016. A group of undisclosed investors had provided $10m of series A financing for Kandou in 2012.
The original version of this story appeared on our sister site, Global University Venturing.