On March 14, AEPONYX closed a $7.9M Series A round of financing from a group of investors led by Pangaea Ventures, a firm with offices in Vancouver and New Jersey. This latest round brings their total funding received to approximately $18M, which includes $1.9M from the government of Canada as part of Sustainable Development Technology Canada (SDTC), a foundation created to support innovative and entrepreneurial clean technology projects.
With the recent growth in internet connectivity (cloud applications, video content, internet of things, etc.), there continues to be a greater need for more optimal technology and AEPONYX has continued to develop patent technology to improve the functionality and efficiency of these devices.
The new funding will allow the company to increase commercial production of its micro optical switch chips which are created using their proprietary platform which combines silicon photonics with Micro-Electro-Mechanical-Systems (MEMS).