California-based Source Photonics Holdings has sealed a Series D funding round at a pre-money valuation of $620 million, according to a statement by the firm.
Shanghai-listed property developer Vantone Neo Development Group plans to inject $50 million into a Chengdu-based subsidiary of Source Photonics; while the remaining $40 million investment is from Shenzhen-listed Guangdong Haomei New Materials, which produces and distributes aluminium products, show regulatory filings.
The proceeds will finance Source Photonics’s product R&D and production capacity expansion, the firm said in a release. The firm will also leverage the funding to prepare for some of the key optical modules.
Founded in 1988, Source Photonics runs R&D and manufacturing facilities in Taiwan, as well as in Chinese cities including Shanghai, Chengdu, and Changzhou, according to its website.
As a major provider of advanced technology solutions for communications and data connectivity, the firm’s products cater to the rapidly increasing demands of cloud infrastructure, wireless communications, routing, and fiber-to-the-premises applications.
Besides engaging in the design and mass production of 25G, 53G, and 106G electroabsorption-modulated laser (EML) chips, as well as the 25G distributed-feedback (DFB) laser diode chip, the firm also offers data centre transceiver, fixed broadband, wireless broadband, and other products related to optical transmission.