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
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