June 1, 2016

Innovium raises $50 million for networking chips in data centers

Aims to develop networking infrastructure products for next-generation data centers.

California-based Innovium today today revealed that it has secured $50 million in financing over two rounds. Innovium first raised a round of funding in the first quarter of 2015 in a round led by venture capital firms Walden Riverwood Ventures and Capricorn Investment Corp.

The company’s products are designed to help companies deal with a bunch of trends, such as the continued adoption of mobile, video, anything-as-a-service (XaaS), big data analytics, and Internet of Things (IoT, or making everyday objects smart and connected).

Innovium believes that the meteoric explosion of data requires a grounds-up approach to high performance Ethernet networking.

Rajiv Khemani, CEO of Innovium said:

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.

Innovium isn’t talking about what it’s building yet. The company says its engineering and executive team came from companies including Broadcom, Cavium, Cisco, Dell, Ericsson, Intel, and Juniper.

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