IPronics raises €107.6 million to scale
Valencia-based iPronics has secured €107.6 million in Series B funding co-led by Maverick Silicon and Light Street Capital, with NVIDIA participating, to
IPronics, a Valencia-based company specialising in silicon photonics-based optical circuit switching for AI infrastructure, has raised €107.57 million ($125 million) in Series B funding. This brings the company’s total funding to €152.3 million ($177 million). The round was co-led by Maverick Silicon and Light Street Capital. NVIDIA joined the round, with participation from new and existing investors including Triatomic Capital, Bosch Ventures, Catalight Capital, European Innovation Council Fund, The Tate Family Trust, Fine Structure Ventures, Amadeus Capital Partners, Build Collective, and Criteria Venture Tech.
Christian Dupont, CEO of iPronics, said the investment strengthens the company’s vision to build a new class of optical networking leaders. He stated that the funding will significantly accelerate commercialisation and deliver the scale customers need to drive broad adoption, ensuring data centres can fully utilise their GPUs without compromising performance.
Founded in 2019 as a spin-off from Universitat Politècnica de València, iPronics claims to be a pioneer in optical connectivity solutions for AI data centres. The company was founded to move programmable photonics from the lab into real-world optical infrastructure at scale. According to the Spanish company, the adoption of optical circuit switching (OCS) is accelerating across AI data centre networks, with deployments across a range of connectivity applications. It opines that as AI clusters grow, the demands of scale-up networking are accelerating the transition from copper to optics and creating the need for a new generation of high-density scale-up switching solutions.
Built on silicon photonics, iPronics has developed a compact, purpose-built OCS platform. It claims that the platform is designed to address the connectivity requirements of AI infrastructure, helping hyperscalers expand AI capacity while managing cost, power and complexity. IPronics ONE, the company’s flagship product, is a rack-mounted optical switch built for AI. It provides programmable optical connectivity within and across racks for dynamic AI infrastructure. With integrated control, telemetry, and APIs, iPronics ONE enables real-time reconfiguration to improve GPU utilisation, reduce energy consumption, and scale without costly network overhauls.
With this funding, Manish Muthal, senior managing director at Maverick Silicon, joins iPronics’ board of directors, along with Geoffrey Tate, an advisor to Light Street Capital. Additionally, Young Sohn of Catalight Capital, which manages a dedicated fund focused on AI infrastructure, becomes an advisor to the company.
Manish Muthal said the explosive growth of AI workloads has pushed traditional network infrastructure to its power and bandwidth limits, making optical circuit switching more critical than ever. He expressed pride in co-leading the round and partnering with the iPronics team as they expand commercial deployments worldwide.
The company plans to use this capital to significantly scale its operations, accelerate commercial deployment, and meet increasing market demand for its iPronics Optical Networking Engine (ONE). To strengthen its U.S. Presence, iPronics has opened an office in Santa Clara, California, and is actively hiring to bolster its product strategy, customer deployments, and AI infrastructure partnerships.
