PhotonIC Technologies, a Chinese optoelectronic integrated circuit chips provider, announced on Thursday that it has completed a series C round of financing from Huaxing New Economic Fund and SDIC Venture Capital.
PhotonIC Technologies, headquartered in Shanghai with research and development centers in Beijing and Silicon Valley, was founded in 2015 to focus on designing, developing, and commercializing high-speed/low-power optoelectronic integrated chips for data center, 5G transmission, 3D ToF smart sensing and other fields.
"We are optimistic about the huge opportunities that 5G brings to the data transmission side. We are also optimistic about the rise of 3D perception in the consumer and industrial sectors. PhotonIC Technologies has leading technology, mature products and deep industry accumulation in the 5G and 3D sensing field," said Niu Xiaoyi, managing director of Huaxing New Economic Fund.
After the investment, the company will continue to increase the research and development investment in new products and new technologies, especially in the high speed and quality optoelectronic integrated chip products that are connected to the world’s advanced level. In addition, it will further expand its manufacturing, operations and marketing teams to expand its R&D and operations centers.
The company is backed up by investors including Walden International, CoWin Capital, and Shanghai IC Funds.
(This article is translated from China Renaissance. You can see the original article in Chinese here.)