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- iPronics
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
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
Website
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2026 | Series B | Light 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 | $125M | iPronics 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 2025 | Series A | Triatomic Capital (lead); Bosch Ventures; Fine Structure Venture; Criteria Venture Tech; Amadeus Capital Partners | $21M | iPronics 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 2022 | Seed | Amadeus Capital Partners (lead); Criteria Venture Tech | $4M | iPronics 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jul 2022 | ||
| 3 | Lead | Jul 2022 | ||
| 2 | Participant | Jan 2025 | ||
| 2 | Participant | Jan 2025 | ||
| 2 | Lead | Jan 2025 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Lead | Sep 2026 | ||
This data is available for Pro users. Sign up to see all 12 iPronics 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 TrialiPronics Competitors
iPronics competitors include listed companies like Arista Networks, IEIT Systems, Samsung and Oracle, and private ones like Crusoe Energy Systems and Nscale.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $9B | $3.9B | $252B | 20.5x | ||
| Publicly listed | $25B | $545M | $15B | 0.6x | ||
| Publicly listed | $243B | $67B | $1.2T | 2.4x | ||
| Publicly listed | $67B | $33B | $455B | 7.8x | ||
| Private | $276M | - | $30B | - | ||
| Private | $33M | - | $15B | 442.4x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $243B | $67B | 4.4x | 2.4x | 15.8x | 4.4x | |||
| $67B | $33B | 8.6x | 7.8x | 17.7x | 13.9x | |||
| $63B | $19B | 7.1x | 6.9x | 23.4x | 17.9x | |||
| $9B | $3.9B | 26.5x | 20.5x | 60.5x | 41.7x | |||
| $23B | $6.9B | 9.0x | 6.5x | 30.0x | 19.8x | |||
| $135B | $7.7B | 1.4x | 0.9x | 23.8x | 16.6x | |||
| $9.2B | $3.9B | 13.3x | 12.3x | 31.3x | 24.2x | |||
| $93B | $23B | 2.0x | 2.0x | 8.1x | 8.3x | |||
This data is available for Pro users. Sign up to see all iPronics competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to iPronics
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