SAN JOSE — Innovium, Inc. a provider of high performance, switching silicon solutions for Cloud and Edge data centers, announced $170 Million in additional equity funding. This financing is made up of new investments from Premji Invest, DFJ Growth, funds and accounts managed by BlackRock, and multiple strategic investors, along with existing investors including Greylock, Capricorn, WRVI, Qualcomm Ventures, Redline, S-Cubed Capital and DAG.
Innovium delivers breakthrough network scalability, performance and insights to fuel the most modern applications in fast-growing Cloud and Edge data centers. The new capital delivers a multi-year runway while accelerating R&D innovation and expanding customer engagements with Innovium as a trusted long-term partner.
“We are delighted at the strong adoption at leading OEM, Cloud and ODM customers for our TERALYNX® family, which resulted in over 20% market share for 50G SerDes switch silicon in our first year of shipments. This additional funding, achieved despite ongoing macroeconomic uncertainty, validates our vision, execution and momentum in a multi-billion secular high-growth market,” said Rajiv Khemani, Co-founder and CEO of Innovium.
“Data centers are expected to see secular long-term expansion from Cloud, 5G, AI and remote-work applications. Innovative TERALYNX switch silicon products from Innovium have already been adopted by world’s leading hyperscale Cloud providers and leading OEMs including Cisco. We are excited to partner with Innovium for its roadmap innovation and help accelerate go-to-market ramp up,” said TK Kurien, Managing Partner and Chief Investment Officer at Premji Invest.
“Developing highly robust switch silicon from the ground up and powering mission-critical networks at the world’s largest data center customers with a first product line is truly remarkable. The team at Innovium has successfully executed on their vision to provide breakthrough solutions with TERALYNX products,” said Sandesh Patnam, Partner at DFJ Growth. “We are excited to invest in Innovium as they continue to make strong progress in customer deployments and expand in a large, high-growth market.”