Ayar Labs Marks Continued Growth With New Financing
The funding, which totals $3 million, comes in the form of a flexible draw down term loan and will be used on specific capital and manufacturing related expenditures as Ayar Labs ramps sampling and production. “SVB is a strategic long-term partner on our journey to bring our revolutionary technology to market,” said Charles Wuischpard, CEO of Ayar Labs. “Our customers and partners are excited at the progress we're making; SVB's investment will fuel our growth and accelerate our volume product introduction.”
Ayar Labs is also pleased to announce that it has been awarded a DARPA grant as part of the “Photonics in the Package for Extreme Scalability” (PIPES) program, a research initiative that seeks to develop high-bandwidth optical signaling technologies for digital microelectronics. Through the grant, Ayar Labs will work to accelerate the adoption and integration of the Advanced Interface Bus (AIB), a royalty-free high-bandwidth electrical interconnect standard, which will be used to link third-party chips to TeraPHY.
Additionally, to support its growing design win activities, Vladimir Stojanovic, a co-founder of Ayar Labs and Associate Professor of Electrical Engineering and Computer Science at the University of California at Berkeley, will be joining Ayar Labs in a full-time capacity to lead system architecture.