iPronics, a Spanish company that makes silicon-photonics optical switches for AI data centres, raised $125m in a Series B round announced on 2 September 2026. The round was co-led by Maverick Silicon and Light Street Capital, and NVIDIA joined as an investor.
New and existing investors Triatomic Capital, Bosch Ventures, Catalight Capital, the European Innovation Council Fund, The Tate Family Trust, Fine Structure Ventures, Amadeus Capital Partners, Build Collective and Criteria Venture Tech also took part. The round brought iPronics' total funding to $177m. No valuation was disclosed.
The company said it would use the money to scale its operations, speed up commercial deployment and meet demand for its Optical Networking Engine (ONE). It has also opened an office in Santa Clara, California, to build its presence in the United States.
“The explosive growth of AI workloads has pushed traditional network infrastructure to its power and bandwidth limits, making optical circuit switching more critical than ever.”Manish Muthal, Senior Managing Director, Maverick Silicon
What iPronics does
iPronics was spun out of the Universitat Politècnica de València in 2019, according to Unite.AI. It works on optical circuit switching (OCS), in which light paths between network endpoints are set up and reconfigured directly instead of being converted to electrical signals and routed through packet switches.
Its iPronics ONE is a rack-mounted optical switch with built-in control, telemetry and APIs that lets AI clusters change their connections in real time for training and inference. Unite.AI reported that the ONE-32, a 32-port model introduced around March 2025, reconfigures in under 300 microseconds with latency below 30 nanoseconds, and that the product family spans 32 to 256 ports.
The company says growing AI clusters are pushing scale-up networks from copper to optics and creating demand for compact, high-density switching that helps hyperscalers add capacity while controlling cost and power.
Customers and manufacturing
iPronics has not named customers. In March 2026 it said it was working with its first ten hyperscaler and AI-cluster equipment-maker customers, and it announced a dedicated manufacturing line with Fabrinet to package, assemble, test and qualify its ONE switches, according to Unite.AI.
"Securing this support from Maverick Silicon, Light Street Capital and NVIDIA strengthens our vision as we build iPronics into a new class of optical networking leaders," said chief executive Christian Dupont. He said the investment would let the company speed up commercialisation so that data centres can make full use of their GPUs.
Founder and chief technology officer Daniel Pérez López said the company was demonstrating with tier-one partners that it can build and deploy the technology at scale.
Who invested
Manish Muthal, senior managing director at Maverick Silicon, joined the iPronics board, along with Geoffrey Tate, an adviser to Light Street Capital who previously founded and ran Rambus and co-founded Flex Logix, which was acquired by Analog Devices.
Young Sohn, a founding member of Catalight Capital and a former president and chief strategy officer of Samsung, became an adviser to the company. Shef Osborn, a partner at Light Street Capital, said the firm saw iPronics' approach as the most scalable and cost-effective route to solid-state optical switching at the interconnect layer.
The Series B follows a €20m (about $20.8m) Series A in January 2025, according to Unite.AI.
Company website: ipronics.com