Innovium Receives $50 Million Funding

 

SAN JOSE — Innovium has raised over $50 million in funding across two oversubscribed rounds to develop breakthrough networking infrastructure products for next-generation data centers.

Innovium’s Series A funding in the first quarter of 2015 was led by venture capital firms Walden Riverwood Ventures and Capricorn Investment Group, with participation from S-Cubed Capital and Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures. Series B funding later in 2015 was led by Greylock Partners with participation from all existing investors. Concurrent with the funding rounds, Asheem Chandna of Greylock, Dipender Saluja of Capricorn, Lip-Bu Tan of Walden International, and Mark Stevens of S-Cubed joined Innovium’s board of directors.

The continued adoption of mobile, video, anything-as-a-service (XaaS), big data analytics and Internet of Things (IoT) is driving sustained, rapid growth in cloud data centers worldwide. This meteoric expansion within tightly constrained yet dynamic environments requires a fresh, grounds-up approach to high performance Ethernet networking. “Innovium is laser-focused on developing revolutionary semiconductor solutions to meet our customers’ most critical needs. We are delighted to receive top-tier investor support towards this mission,” said Rajiv Khemani, CEO and founder of Innovium.

Innovium has assembled a world-class engineering and executive team with prior experience at leading companies including Broadcom, Cavium, Cisco, Dell, Ericsson, Intel and Juniper and with credentials from leading universities including Berkeley, Caltech, CMU, IITs, Purdue, Stanford, UCs and UIUC. The Innovium team has proven experience in defining and delivering a diverse set of networking products that have been pervasively deployed by the most demanding cloud and enterprise customers and have generated billions of dollars in revenues.