XDATA – September 18th 2014
Aurrion received two commitments for its $42 million financing round. Investors committed to buy 27% or $11.5 million worth of equity a little over a week ago. The offering will remain open until September 2015 while an additional $30.5 million worth of securities is sold to investors. The company closed three previous unregistered private placements which raised an estimated $14.4 million.
Aurrion commercializes a technology platform that can unite the worlds of photonics and silicon based microsystems to create silicon photonic integrated circuits (IC) for datacenters to handle an ever increasing traffic and manage bandwidth. The platform enables unprecedented advances by leveraging the capability and low cost of silicon IC manufacturing yet retaining the performance of advanced non-silicon materials.
The company is headquartered in Goleta CA. Aurrion elected to keep its revenues undisclosed.
The executive team includes Alexander Fang.
The board of directors includes Daniel Burnham, Gregory Fish, John Bowers, Milton Chang and Steve Cooper.
The company has raised an estimated total of $25.9 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $42 million
Amount placed: $11.5 million
First sale: 09-10-2014
Data as of: 09-18-2014