iPronics Funding, Investors & Competitors

iPronics has raised $150M across 3 funding rounds, most recently a $125M Series B in September 2026.

Last iPronics funding round

$125M

Series B · Sep 2026

Cumulative funding iPronics raised

$150M

across 3 funding rounds

Key investors in iPronics

  • Amadeus Capital Partners
  • Criteria Venture Tech
  • Bosch Ventures
  • Fine Structure Venture
  • Triatomic Capital
  • European Innovation Council
  • NVIDIA
  • Future Shape

iPronics Overview

About iPronics

iPronics is a Granada-based photonics company developing programmable optical circuits for data centers and AI infrastructure. Its Nanowaveguide technology enables low-latency optical switches compatible with standard fiber optics. The firm collaborates with telecom operators and hyperscalers to upgrade interconnects in high-performance computing clusters.


Founded

2019

HQ

SpainValencia

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

iPronics Funding History

iPronics has raised a total of $150M across 3 funding rounds.

iPronics' first fundraising round was a $4M seed round in July 2022. The most recent completed round was a $125M Series B in September 2026.

iPronics funding rounds

iPronics funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2026Series BLight Street Capital (lead); Maverick Silicon (lead); European Innovation Council; NVIDIA; Bosch Ventures; Fine Structure Venture; Future Shape; Tate Family Trust; Criteria Venture Tech; Build Collective; Triatomic Capital; Amadeus Capital Partners$125MiPronics raised $125 million in a Series B round on September 2, 2026, co-led by Maverick Silicon and Light Street Capital, with participation from Amadeus Capital Partners alongside NVIDIA and other investors. The round brought total funding to $177 million. The capital is intended to scale operations, accelerate commercial deployment, and expand iPronics’ programmable optical circuit switching technology for AI data centers. The company’s Optical Networking Engine (ONE) is positioned for rack-mounted optical switching in artificial intelligence infrastructure, where the goal is to improve data-center networking efficiency. iPronics was founded in 2019 as a spin-off from Universitat Politècnica de València and is based in Valencia, Spain, with an additional presence in Santa Clara, California. The company focuses on silicon photonics-based optical circuit switching for AI infrastructure and counts strategic and financial backers including NVIDIA, Amadeus Capital Partners, Bosch Ventures, European Innovation Council Fund, Fine Structure Ventures, Criteria Venture Tech, and others.
Jan 2025Series ATriatomic Capital (lead); Bosch Ventures; Fine Structure Venture; Criteria Venture Tech; Amadeus Capital Partners$21MiPronics is a Spanish deep tech startup founded in 2019 as a spinoff from Universitat Politècnica de València, headquartered in Valencia, specializing in software-defined photonic engines. The company develops the Optical Networking Engine (ONE), an optically switched fabric solution designed to overcome bandwidth limitations of traditional electronic switches in AI data centers, offering 1000x faster reconfiguration, lossless operation, lower cost-per-port, and higher reliability via solid-state chip design. On January 28, 2025, iPronics closed a €20 million ($21-22M) Series A funding round led by Triatomic Capital, with participation from Fine Structure Ventures (Fidelity Investments), Bosch Ventures, Amadeus Capital Partners, and Criteria Venture Tech. The funds will accelerate deployment of the ONE solution in AI data centers to enable fast, scalable, high-bandwidth communication for energy-efficient AI, larger GPU domains, increased training compute capacity, and low-latency inference. CEO Christian Dupont highlighted its role in advancing Optical Circuit Switch market deployment for next-gen AI infrastructure. Triatomic Capital, an early-stage VC focused on applied AI themes like next-gen compute, views iPronics' photonics technology as key to advancing network fabrics at the speed of light for AI clusters.
Jul 2022SeedAmadeus Capital Partners (lead); Criteria Venture Tech$4MiPronics is a Spanish deep tech company specializing in software-defined photonics, spun out from the Technical University of Valencia. The company has developed the world's first general-purpose programmable photonic processor and Field Programmable Photonic Gate Array (FPPGA) chip, with seven patents and publications in Nature. In July 2022, iPronics raised €3.7 million in seed funding led by Amadeus Capital Partners, with participation from Caixa Capital Risc. The funding was intended to expand the engineering team and accelerate product development to bring the FPPGA chip to market. The company subsequently raised €20 million in Series A funding led by Triatomic Capital in January 2025, with participation from Fine Structure Ventures, Bosch Ventures, Amadeus Capital Partners, and Criteria Venture Tech, to develop its Optical Networking Engine (ONE) technology for AI data centres.

Who has invested in iPronics?

12 investors have backed iPronics across its funding rounds, including Amadeus Capital Partners, Criteria Venture Tech, Bosch Ventures, Fine Structure Venture, Triatomic Capital and European Innovation Council.

Lead investors include Light Street Capital, Maverick Silicon, Triatomic Capital and Amadeus Capital Partners.


iPronics Investors

Investors in iPronics by funding rounds participated
InvestorHQRoundsRoleFirst check
Criteria Venture TechSpainBarcelona3ParticipantJul 2022
Amadeus Capital PartnersUnited KingdomCambridge3LeadJul 2022
Bosch VenturesGermanyGermany2ParticipantJan 2025
Fine Structure VentureUnited StatesBoston, MA2ParticipantJan 2025
Triatomic CapitalUnited StatesNew York City, NY2LeadJan 2025
European Innovation CouncilBelgiumBrussels1ParticipantSep 2026
NVIDIAUnited StatesSan Jose, CA1ParticipantSep 2026
Future ShapeFranceParis1ParticipantSep 2026
Tate Family TrustUnited StatesUnited States1ParticipantSep 2026
Light Street CapitalUnited StatesSan Francisco, CA1LeadSep 2026

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iPronics Competitors

iPronics competitors include listed companies like Arista Networks, IEIT Systems, Samsung and Oracle, and private ones like Crusoe Energy Systems and Nscale.

Public and private companies comparable to iPronics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Arista NetworksUnited StatesUnited StatesPublicly listed$9B$3.9B$252B20.5x
IEIT SystemsChinaChinaPublicly listed$25B$545M$15B0.6x
SamsungSouth KoreaSouth KoreaPublicly listed$243B$67B$1.2T2.4x
OracleUnited StatesUnited StatesPublicly listed$67B$33B$455B7.8x
Crusoe Energy SystemsUnited StatesDenver, COPrivate$276M-$30B-
NscaleUnited KingdomLondonPrivate$33M-$15B442.4x

iPronics Public Comps

iPronics is still privately-owned, but its public comps include Samsung, Oracle, Cisco, Arista Networks, Amphenol, Foxconn Industrial Internet, Equinix, NTT Group, Vertiv and Eoptolink.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Samsung$243B$67B4.4x2.4x15.8x4.4x
Oracle$67B$33B8.6x7.8x17.7x13.9x
Cisco$63B$19B7.1x6.9x23.4x17.9x
Arista Networks$9B$3.9B26.5x20.5x60.5x41.7x
Amphenol$23B$6.9B9.0x6.5x30.0x19.8x
Foxconn Industrial Internet$135B$7.7B1.4x0.9x23.8x16.6x
Equinix$9.2B$3.9B13.3x12.3x31.3x24.2x
NTT Group$93B$23B2.0x2.0x8.1x8.3x

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Common questions about iPronics

When was iPronics founded?iPronics was founded in 2019.
Where is iPronics headquartered?iPronics is headquartered in Valencia, Spain.
Is iPronics publicly listed?No, iPronics is a private, VC-backed company.
How much funding has iPronics raised?iPronics has raised $150M across 3 funding rounds.
What was iPronics' last funding round?iPronics' last funding round was a $125M Series B in September 2026, led by Light Street Capital and Maverick Silicon.
Who are iPronics' investors?iPronics' investors include Criteria Venture Tech, Amadeus Capital Partners, Bosch Ventures, Fine Structure Venture, Triatomic Capital, European Innovation Council, NVIDIA, Future Shape, Tate Family Trust, Light Street Capital and 2 others.
Which companies are comparable to iPronics?Companies comparable to iPronics include Arista Networks, IEIT Systems, Samsung, Oracle, Crusoe Energy Systems and Nscale.

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