Source Photonics Secures USD 40 Million in Equity Funding

Source Photonics Secures USD 40 Million in Equity Funding

Source Photonics adds value to its customers by developing next-generation solutions that will allow their growth by meeting the rapidly increasing demands of cloud infrastructure, wireless communications, routing, and fiber-to-the-premises applications worldwide

Fremont, CA: Global leader of optical transceivers Source Photonics secured USD 40 million in a new equity funding round to support its growing data center and 5G business, and to enhance its existing low-cost as well as advanced solutions. The company is a leading provider of innovative and reliable optical communications technology that enables communications and connectivity in data centers, metro, and access networks. Source Photonics adds value to its customers by developing next-generation solutions that will allow their growth by meeting the rapidly increasing demands of cloud infrastructure, wireless communications, routing, and fiber-to-the-premises applications worldwide.

"We value our investors' trust and confidence in Source Photonics, especially during these challenging times of global health and economic crisis," says Weiming Li, CEO, and President of Source Photonics. "Their enthusiasm and confidence in us prove that our team is on the right track as we focus on responding rapidly to our customers' needs and developing advanced technologies to cope with the increasing demand for bandwidth. Our next step is to seize the global market opportunity as demand for networking and cloud services skyrocketed as millions of people around the world are working and learning from home."

The latest financing round amidst the COVID-19 pandemic reflects the investors' confidence in the company's long-term vision and business strategy. The funds generated will be used to expand the company's 5G product line further and upgrade its own laser chip production facilities while continuing to strengthen the research and development of its low-cost solutions and next-generation technologies. The company has vital R&D and manufacturing facilities in California, Taiwan, Chengdu, and Jintan, China.

As businesses worldwide bring their production to a standstill due to the pandemic, Source Photonics' factory in Chengdu, China, has been operational since early February. The company's proactive response to opening its production earlier than most companies in the region proved its commitment to supply chain continuity as its products are deemed essential to the internet and telecommunications systems. Also, its factories in Jintan, Mainland China, and Hsinchu, Taiwan, are up and running.

See also: Top Cloud Consulting/Services Companies

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