Inphi raises $24 million in second round funding
“Given the current economic environment and the reduced investment in telecommunications-related startups, our ability to close such a significant round with a lead investor who has a proven track record of building semiconductor companies validates our achievements over the past eighteen months,” said Tim Semones, Inphi’s CFO and co-founder. “This round provides us with the capital required to take our existing products to volume deployment and simultaneously pursue new development opportunities.”
“We looked at a number of promising companies in the optical networking industry, but ultimately we were sold on Inphi’s leading-edge technology and demonstrated customer traction,” said chairman and founder of Walden International, Lip-Bu Tan, who now joins Inphi’s board. “Inphi has attained multiple milestones since its inception, including a record-breaking 80 Gbit/s prototype part in InP. We’re excited about the opportunity to see them through their next growth phase as they gear up for volume manufacturing and production.”
