California-based networking chip startup Innovium is the newest unicorn that raised $170 Million in additional equity funding. The company is a leading provider of high performance, innovative switching silicon solutions for Cloud and Edge data centers. Innovium becomes the first network silicon company to achieve unicorn status and helps data centers deal with bandwidth demand that has accelerated more since the pandemic.
The funds and accounts are managed by BlackRock, and multiple strategic investors, along with existing investors including Greylock, Capricorn, WRVI, Qualcomm Ventures, Redline, S-Cubed Capital, and DAG. The new investments were from Premji Invest, DFJ Growth. The new funding will accelerate product and customer momentum worldwide.