DustPhotonics Acquisition, Valuation, Funding & Investors

DustPhotonics was acquired by Credo Technology Group for $1.3B in April 2026.

DustPhotonics acquisition price

$1.3B

Acquired by Credo Technology Group · Apr 2026

Cumulative funding DustPhotonics raised

$85M

across 4 funding rounds

Key investors in DustPhotonics

  • Celesta Capital
  • Intel Capital
  • Greenfield Partners
  • Avigdor Willenz
  • Exor Ventures
  • Atreides Management
  • Phoenix Financial
  • Poalim Equity

DustPhotonics Overview

About DustPhotonics

DustPhotonics is a Modi'in-headquartered producer of silicon photonics-based pluggable optical modules for data centers, enterprise networks, and high-performance computing. Founded in 2017, the company operates an additional office in Cupertino, California, where its AuraDP technology supports advanced 400G and 800G connectivity solutions.


Founded

2017

HQ

IsraelModi'in

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.3B (acquired Apr 2026)

DustPhotonics Acquisition

DustPhotonics was acquired by Credo Technology Group for $1.3B on 12 April 2026.

Before the acquisition DustPhotonics had raised $85M across 4 funding rounds.

DustPhotonics acquisition details
AcquirerDateTypePrice
12 Apr 2026Strategic M&A$1.3B

DustPhotonics Funding History

DustPhotonics has raised a total of $85M across 4 funding rounds.

DustPhotonics' first fundraising round was a $25M Series B in September 2019. The most recent completed round was a $24M Series B in February 2024.

DustPhotonics funding rounds

DustPhotonics funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2024Series BAtreides Management; Sienna Investment Managers; Greenfield Partners; Exor Ventures$24MDustPhotonics, an Israel-based company founded in 2017 and headquartered in Modi'in, develops silicon photonics technology for hyperscale data centers, AI, enterprise, and HPC applications. The company transitioned from manufacturing transceivers to focusing on silicon photonics solutions in 2021, offering pluggable optical modules like the Carmel-4 (400Gb/s) and Carmel-8 (800Gb/s) products, with next-generation developments targeting 1.6Tb/s applications. Its platform emphasizes improvements in bandwidth, speeds, cost reduction, and power efficiency for optical networking. On February 21, 2024, DustPhotonics closed an oversubscribed $24 million Series B follow-on round, funded by new and existing investors including Sienna Venture Capital, Greenfield Partners, Atreides Management, and Exor Ventures. The proceeds will scale production of Carmel-4 and Carmel-8 products and accelerate R&D for future 1.6Tb/s innovations. This marks the company's latest funding, bringing total capital raised to $61 million across three rounds or $96 million over six per some trackers, following a $33 million round in 2021 amid a reorganization that reduced headcount by about 80 employees. Investors highlighted DustPhotonics' leadership in AI compute markets, strong customer traction, design-win momentum, customer agreements, and backlog for its products. CEO Ronnen Lovinger noted excitement for opportunities in AI and cloud data centers, supported by long-term backers and new partners. Chairman Avigdor Willenz praised the team's progress in technology, products, and business since the silicon photonics pivot, positioning the company as a leader in merchant silicon photonics. The funding underscores growing demand for silicon photonics to enable data centers' AI requirements, with backers like Sienna's Isabelle Amiel-Azoulai and Greenfield's Yuda Doron citing the company's innovation, execution, commercial wins, and market potential.
Oct 2021Series BGreenfield Partners (lead); Avigdor Willenz; Poalim Equity; Phoenix Financial; Celesta Capital; Intel Capital$33M-
Nov 2019Series BCelesta Capital$3M-
Sep 2019Series BIntel Capital (lead); Avigdor Willenz; Celesta Capital$25MDustPhotonics, an Israel-based startup founded in 2017 with offices in Modiin and Cupertino, California, develops pluggable high-speed optical transceivers, modules, and cables for data centers, high-performance computing, and hyperscale applications using electro-optic technology like AuraDP and VCSEL-based interconnects. The company addresses demands for lower cost, lower power, and higher reliability in optical connectivity as data rates double with each generation. In September 2019, DustPhotonics raised $25 million in a Series B funding round led by Intel Capital, with participation from WRVI Capital and continued investment from semiconductor entrepreneur Avigdor Willenz. Intel Capital's investment complemented their optical transceiver portfolio, emphasizing DustPhotonics' role in short-reach, standards-based interconnects essential for data center performance and scale. WRVI Capital highlighted the company's innovative solutions for high-performance connectivity needs. The funding was intended to accelerate product roadmap development for next-generation optical modules, expand operations, and grow global market presence. CEO Ben Rubovitch noted the products meet key hyperscale requirements and enable high-density architectures. Intel's Hong Hou and WRVI's Lip Bu Tan praised the technology's positioning amid growing data center and fiber infrastructure investments driven by cloud, enterprise, and 5G demands.

Who has invested in DustPhotonics?

9 investors have backed DustPhotonics across its funding rounds, including Celesta Capital, Intel Capital, Greenfield Partners, Avigdor Willenz, Exor Ventures and Atreides Management.

Lead investors include Greenfield Partners and Intel Capital.


DustPhotonics Investors

Investors in DustPhotonics by funding rounds participated
InvestorHQRoundsRoleFirst check
Celesta CapitalUnited StatesSan Francisco, CA3ParticipantSep 2019
Avigdor Willenz--2ParticipantSep 2019
Greenfield PartnersIsraelTel Aviv2LeadOct 2021
Intel CapitalUnited StatesSanta Clara, CA2LeadSep 2019
Atreides ManagementUnited StatesBoston, MA1ParticipantFeb 2024
Poalim EquityIsraelTel Aviv1ParticipantOct 2021
Sienna Investment ManagersFranceParis1ParticipantFeb 2024

This data is available for Pro users. Sign up to see all 9 DustPhotonics investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

DustPhotonics Competitors

DustPhotonics competitors include listed companies like POET Technologies, Tianjin 712 Communication and Parade Technologies, and private ones like DataBox, BYD Semiconductor and XLMEC.

Public and private companies comparable to DustPhotonics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
POET TechnologiesCanadaCanadaPublicly listed$1M($60M)$1.3B106.5x
DataBoxChinaSuzhouPrivate--$500M-
Tianjin 712 CommunicationChinaChinaPublicly listed$320M($54M)$1.3B-
BYD SemiconductorChinaShenzhenPrivate--$1.3B-
XLMECChinaChongqingPrivate--$1.3B-
Parade TechnologiesChinaChinaPublicly listed$519M$109M$1.3B1.9x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
POET Technologies$1M($60M)475.5x106.5x(8.6x)-
Tianjin 712 Communication$320M($54M)4.7x-(27.9x)-
Cordiant Digital Infrastructure$221M-6.9x6.5x--
Adtran Networks$555M$72M2.4x-18.7x-
Parade Technologies$519M$109M2.0x1.9x9.4x9.8x
Wolfspeed$758M($1.1B)2.6x3.0x(1.8x)59.7x
Shenzhen Q and D Circuits$142M$27M9.2x-49.0x-
Koh Young$169M$21M7.5x5.9x60.1x31.1x

This data is available for Pro users. Sign up to see all DustPhotonics competitors and their valuation data.

Start Free Trial

Common questions about DustPhotonics

When was DustPhotonics founded?DustPhotonics was founded in 2017.
Where is DustPhotonics headquartered?DustPhotonics is headquartered in Modi'in, Israel.
Is DustPhotonics publicly listed?No, DustPhotonics was acquired by Credo Technology Group in April 2026.
Who acquired DustPhotonics?DustPhotonics was acquired by Credo Technology Group in April 2026.
How much was DustPhotonics acquired for?DustPhotonics was acquired for $1.3B in April 2026.
How much funding has DustPhotonics raised?DustPhotonics has raised $85M across 4 funding rounds.
What was DustPhotonics' last funding round?DustPhotonics' last funding round was a $24M Series B in February 2024.
Who are DustPhotonics' investors?DustPhotonics' investors include Celesta Capital, Avigdor Willenz, Greenfield Partners, Intel Capital, Atreides Management, Poalim Equity, Sienna Investment Managers, Exor Ventures and Phoenix Financial.
Which companies are comparable to DustPhotonics?Companies comparable to DustPhotonics include POET Technologies, DataBox, Tianjin 712 Communication, BYD Semiconductor, XLMEC and Parade Technologies.

See companies similar to DustPhotonics

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial