Spanish startup iPronics, founded in 2019 as a spin-off from the Technical University of Valencia, raised $125 million in Series B funding on September 2, with Maverick Silicon and Light Street Capital co-leading the round and Nvidia participating, bringing total funding to $177 million. The company builds silicon photonics-based optical circuit switches that can reconfigure data center internal connections in sub-milliseconds, reducing optical equipment footprint by approximately 20 times. The technology minimizes GPU idle time by improving data transfer efficiency and reduces power consumption for hyperscalers deploying hundreds of thousands of accelerators. iPronics has been shipping its ONE platform switches for about a year to large unnamed AI infrastructure providers and established a high-volume manufacturing partnership with Thailand-based Fabrinet. Part of the new capital will fund expansion at a new Santa Clara office as the company competes for hyperscaler contracts.
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