Start-up ColorChip Ltd. has raised $7.5 million led by Vertex Venture Capital and existing investors, including Bessemer Venture Partners, Eurofund, Walden Israel, PolyTechnos, and Motorola Ventures. The present round was held exactly a year after the last one. The company has raised $24 million altogether, including the present round.
ColorChip was founded in 2001, and develops components for fiber-to-the-home (FTTH). The company’s founders include Lumenis and Syneron Medical founder Dr. Shimon Eckhouse, and Prof. Shlomo Ruschin of Tel Aviv University Department of Engineering.
ColorChip has attracted a great deal of interest lately because of the rise in demand for optical broadband communications for both end-users and enterprises. The company specializes in SystemOnGlass as well as silicon-based system-on-chip cables. Unusually for a start-up, the company is a foundry, and its production line was one reason why Vertex invested in the company.
ColorChip chairman and CEO Moshe Price predicts that the company will reach break-even point in 2008, after achieving $2 million in sales this year.
Published by Globes [online], Israel business news - www.globes.co.il - on February 20, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007
You comment was recieved and soon will be published.
Thank you for posting your comment, which will be reviewed for publication.
Load more comments