Tuesday, March 5, 2019

Source Photonics raises $100 million for its optical transceivers

Source Photonics, which supplies optical transceivers, recently closed more than $100M in equity to support its growing data center and 5G business.

The company said it will use the funding to further increase the scale of its operations.  Planned developments include the creation of a new laser fab, upgrades to existing production facilities and increased investment in the research and development of next-generation technologies, ensuring Source Photonics continues its position as a leading innovator. Upgrades to Source Photonics’ fab in Taiwan have already been completed and production operations have begun for a new fab in Jintan, China using the latest funding.

“Exciting new applications such as the Internet of Things (IoT), Virtual Reality, and cloud services are growing in popularity every day,” said Doug Wright, CEO at Source Photonics. “These applications all depend on the next standard of connectivity and 5G depends on the backing of a world-class optical network. We are extremely proud that our investors have shown this confidence in us and are confident that the investment will support our ongoing work to enable the next era of connectivity.”