Optical communications company Source Photonics has raised $40 million to grow its data center and 5G business and to enhance its existing product lines.
Specifically, the funding will be used to expand the West Hills company’s 5G products and upgrade its laser chip production facilities while strengthening the research and development of low-cost products and next generation technologies.
Source Photonics did not name the source of the capital, only saying it came from “new financial and strategic investors.”
Chief Executive Weiming Li said the company values its investors’ trust and confidence during the challenging times of the coronavirus crisis.
“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,” Li said in a statement. “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.”
Source Photonics has facilities in Chengdu and Jintan, China and in Hsinchu, Taiwan.