Coherent, Crosslink Capital and Vulcan Capital have joined veteran investors Polaris Venture Partners and Harris & Harris in the series B financing round for SiOnyx. The series closed at US$12.5 million and resulted in no changes to SiOnyx’s board of directors. The companies funding is going towards the commercialization of its new semiconductor processing technique, which the company claims is an advancement for smaller, cheaper, high-performing silicon photonic devices.
“The addition of a strategic partner and two top-tier venture capital firms to our series B syndicate underscores the tremendous economic potential of SiOnyx's innovation,” said Stephen Saylor (pictured), CEO of SiOnyx. “Our early success in delivering record-breaking performance in applications from simple light detection to thin-film photovoltaics has fueled our momentum. With this new funding, SiOnyx will launch our first commercial products and expand the suite of solutions offered to our strategic partners.”
