Luxtera Closes $21.7 Million of Financing
Luxtera, has announced the closing of a $21.7 Million C round of financing. Participation in the C round includes inside investment for NEA, August Capital, Sevin Rosen, Funds, and Lux Capital, as well as new investment from Tokyo Electron, and personal investment from an industry titan. In addition, Luxtera adds Martin Colombatto to its board of directors.
Colombatto most recently served as the CEO and president
of Staccato Communications, a San Diego-based Ultra Wide Band (UWB)/ wireless
USB company. Prior to Staccato, Colombatto served as the vice president and
general manager of Broadcom's Networking Business Unit. During Colombatto's
tenure at Broadcom, he established and managed a business that generated more
than $400 million in revenue over a four year period. As a corporate officer
and member of the executive staff, he led the acquisition of five companies
that were integrated into his business and formed the technology and product
foundation for future revenue growth.
"This is an exciting time for Luxtera and I am honored to
be joining an organization that is seeding technology poised to be as
disruptive as the mass productization of CMOS photonics in silicon," said
Colombatto. "There is incredible talent at Luxtera and I look forward to
helping to shape this defining industry transition as Silicon CMOS Photonics
overcomes the limitations of copper interconnect."
"It is exciting to be a part of this fundamental industry
transition," said Greg Young, president and CEO of Luxtera. "Silicon CMOS
Photonics has transitioned from the exotic research labs of Intel and IBM to
become a mainstream technology. With
over 1 million 10Gb channels shipped and numerous opportunities to ship tens of
millions of units, we have established ourselves as the leader in this
important field."
