Venture-Backed InnoLight Technology Files For US IPO

Suzhou, Jiangsu province-based cloud computing optical transceivers maker InnoLight Technology Corporation, backed by Google Capital and Lightspeed China Partners, has filed for an initial public offering on the NASDAQ, according to a securities filing.

The company plans to raise US$100 million, which is a preliminary estimate of the size of the float used only to calculate registration fees.

In September 2014, Google’s investment arm and Lightspeed China Partners led a US$38 million series C financing in the company.

In 2012, Suzhou Cowin Venture Capital Management invested US$2.1 million in the company’s series B round, which raised a total of US$11.2 million.

According to the filing, Google Capital owns over nine million shares, or 20.2% of Innolight.

Suzhou Cowin Venture Capital Management and Lightspeed China Partners each own 4.76 million and 4.72 million ordinary shares, or 10.6% and 10.5% respectively.

Established in 2008, InnoLight received initial funding from China-Singapore Suzhou Industrial Park Ventures, now named Oriza Holdings, and U.S. venture firm Acorn Campus Ventures.

InnoLight designs and markets high-speed optical transceivers that enable rapid bandwidth expansion of Web 2.0 companies. It has sale offices and research and development centers in mainland China, the U.S. and Taiwan.

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