Venture Funding

Innovium Closes $77 Million Series D

SAN JOSE — Innovium, Inc. a provider of networking solutions for data centers, has closed a $77 million Series D funding. The new round, which brings Innovium’s total financing since inception to over $160 million, includes investment from venture capital firms Greylock Partners, Walden Everbright, Walden Riverwood Ventures, Paxion Capital, Capricorn Investment Group, Redline Capital, S-Cubed Capital and Qualcomm Ventures.

The new funding will be used to drive production and ramp of Innovium’s TERALYNX 12.8Tbps and 6.4Tbps data-center optimized switch family, along with market expansion and product roadmap innovation.

“Data center networks are experiencing dramatic traffic growth and face new requirements, driven by public and hybrid cloud, machine learning, analytics, storage and video. Innovium’s grounds-up innovations have enabled a revolutionary platform for a family of products, delivering the industry’s next generation of performance, programmability, cost/bit and robust features. We are excited to significantly increase our investment in Innovium, to help the company accelerate its production, roadmap, and go-to-market efforts,” said Asheem Chandna, Partner at Greylock Partners.

“I am thrilled to see the vision of data center optimized networking come to fruition with the market-leading performance and capabilities of Innovium’s TERALYNX sampling silicon. The Innovium team has executed relentlessly to deliver a differentiated, power-efficient solution which is seeing excellent market traction. Walden investment funds are excited to support Innovium during its next phase, as TERALYNX gets volume deployed at several industry leading customers,” said Lip-Bu Tan, Chairman of Walden International.