Google, Lightspeed lead $38m round for China's InnoLight
Google Capital, the growth-stage venture arm of Google, and Lightspeed China Partners have co-led a $38 million Series C round of funding for InnoLight Technology, a Chinese manufacturer of cloud computing optical transceivers.
InnoLight was founded in 2008 and is based in Suzhou. The company produces high-speed optical transceivers that enable bandwidth expansion of Web 2.0 companies. It has sales offices and R&D centers in China, the US and Taiwan.
InnoLight previously received funding from Oriza Holdings, formerly Suzhou Industrial Park Ventures, and Acorn Campus.
The firm claims to be a leader in 40 gigabit per second (Gbps) optical transceivers and a first mover in 100 Gbps solutions. The new funding will be used to improve technology and expand production capacity.
This is Google's first investment in China. "InnoLight's technology is uniquely suited for next generation data center environments, and its vision and execution have been excellent," Gene Frantz, general partner at Google Capital, said in a statement.
James Mi, managing director of Lightspeed China, said the firm was attracted by InnoLight's leading technologies and products, which could address new generation data center needs driven by the fast growth of cloud computing industry in the country.
The VC firm reached a final close of $260 million on its second China fund in June.
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