$125m · Series B · Semiconductors · Valencia, Spain
Valencia-based iPronics has raised a $125m Series B co-led by Maverick Silicon and Light Street Capital. NVIDIA joined the round alongside new and existing investors including Triatomic Capital, Bosch Ventures, Catalight Capital, the European Innovation Council Fund, The Tate Family Trust, Fine Structure Ventures, Amadeus Capital Partners, Build Collective and Criteria Venture Tech. The company says the financing brings total funding to $177m.
The capital will fund the commercial rollout of iPronics ONE, a rack-mounted optical circuit switch for AI data centres, while supporting broader operations and market expansion. iPronics has also opened a Santa Clara office and is hiring around product strategy, customer deployments and AI-infrastructure partnerships.
Making the physical network programmable
AI clusters do not scale on processors alone. GPUs also need to exchange large volumes of data, and fixed physical connections can become harder to manage as a cluster spans more racks. iPronics ONE uses a silicon-photonics switch fabric to create configurable optical paths, with software control, telemetry and APIs layered over the hardware.
That design gives operators a way to redirect high-bandwidth connections without rebuilding the physical cabling for every topology change. It is not a general replacement for packet switching: the commercial case is strongest where sustained, high-capacity traffic can use a programmable optical path. The product therefore has to fit cleanly into existing AI-network architectures and prove that its optical performance, control plane and reliability hold up together in production.
The Series B funds a manufacturing and deployment test
iPronics launched its ONE-32 product in March 2025, claiming less than 30 nanoseconds of added latency and reconfiguration in under 300 microseconds. In March 2026, the company reported early wins with its first ten hyperscaler and AI-cluster OEM customers and announced a dedicated Fabrinet line for packaging, assembly, testing and qualification.
That manufacturing partnership matters because optical-network hardware has to move from laboratory performance to repeatable systems that meet customer requirements for yield, reliability and support. The investor group brings semiconductor, AI-infrastructure and industrial-scaling experience, but the next evidence will come from named deployments and repeat orders. The Series B gives iPronics the balance sheet to pursue that proof at commercial scale.
