Fledgling chip manufacturer raises DKK 52.5m in fresh capital  

Fledgling Danish chip manufacturer IPtronics has raised DKK 52.5m in venture capital from two new investors as well as from an existing investor and the management team
Fledgling Danish chip manufacturer IPtronics has raised DKK 52.5m (USD 10.5m) in venture capital from two new investors, Danish venture company Sunstone Capital and the Swedish venture company Creandum, as well as current investor 10IPT10 and members of the management team. The investment raises IPtronics' value to more than DKK 100m (USD 20m), writes financial daily newspaper Børsen. The money will be used for accelerating global sales and product development.
"It is a large sum and also larger that we anticipated when we started raising the money," CEO Niels Finseth of IPtronics told Børsen. "But the potential of the technology has turned out to be greater than we assumed to begin with. We are ahead in that area and there are great opportunities. We are in dialogue with all the large customers."
IPtronics develops and produces a technology that can replace high-speed electrical interconnections with optical fiber connections in computers, servers and game consoles. The optical connections increase the speed and only use about one tenth of the power that electrical connections use.
"Power consumption is the paramount challenge for high-speed electrical interconnections, and here optical interconnection plays a potentially vital role in the next generation computer systems. IPtronics holds the key technology to unlock this market," Niels Finseth commented in a press release.
IPtronics was founded in 2003 and is based in Roskilde near Copenhagen. The company has recently established US operations in Palo Alto, California.
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