Source Photonics Closes New Funding for Next-Generation Technologies

More than 100 million dollars in equity has been raised from new
financial and strategic investors that will be used for growth
investments

WEST HILLS, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/100G?src=hash” target=”_blank”gt;#100Glt;/agt;–Source
Photonics, a leading global provider of optical transceivers, today
announced it recently closed more than $100M in equity to support its
growing data center and 5G business.


The funding will be used to further increase the scale of Source
Photonics’ operations, as LightCounting reported that the sales of
optical components and modules to Cloud Companies grew by 63% in 2016
and 64% in 2017. The growth rate will average roughly 20% per year
through 2023. Higher growth rates in 2020-2022 will be driven by first
volume deployments of 400GbE. This is a result of the rise of 5G and the
cloud.


Planned developments include the creation of a new laser fab, upgrades
to existing production facilities and increased investment in the
research and development of next-generation technologies, ensuring
Source Photonics continues its position as a leading innovator.


“Exciting new applications such as the Internet of Things (IoT), Virtual
Reality, and cloud services are growing in popularity every day,” said
Doug Wright, CEO at Source Photonics. “These applications all depend on
the next standard of connectivity, and 5G depends on the backing of a
world-class optical network. We are extremely proud that our investors
have shown this confidence in us and are confident that the investment
will support our ongoing work to enable the next era of connectivity.”


Upgrades to Source Photonics’ fab in Taiwan have already been completed
and production operations have begun for a new fab in Jintan, China,
using the latest funding. The funding will also be used towards
technology investments for advanced coating technologies to enable
next-generation lasers and transceivers for the fast-growing 5G and data
center markets.


Source Photonics’ latest range of cutting-edge technology will be
exhibited at OFC 2019 at booth 4021. Products on display will include
its new 400G-LR8 and DR4 QSFP-DD solutions, which are the latest
addition to its PAM4-based optical transceivers portfolio. Other
products which will be showcased at OFC, in San Diego, on March 4-7,
2019, include several QSFP28 solutions such as the 100G-DR/FR, 100G-SR4,
100G CWDM4, and 100G-LR4. The company will also demonstrate some of its
solutions for the 5G market such as the 50G-ER QSFP28 and 25G LAN DWM
SFP28.


About Source Photonics:


Source
Photonics is a leading provider of innovative and reliable optical
communications technology that enables communications and connectivity
in data centers, metro, and access networks. We invent next-generation
solutions to provide customers with enabling technologies to support the
rapidly increasing demands of cloud infrastructure, wireless
communications, routing, and fiber-to-the-premises worldwide. Source
Photonics is headquartered in West Hills, California, with manufacturing
facilities, R&D, and sales offices worldwide. For more information about
Source Photonics, please visit www.sourcephotonics.com.


Contacts

Jasmin BasalMarketing CommunicationsPhone: 818-885-4202Email: jasmin.basa@sourcephotonics.com