iPronics raises $125 million for optical AI data-center switching

Valencia-based iPronics has announced a $125 million Series B round, with Nvidia participating, to expand its optical circuit-switching business for AI data centers. Maverick Silicon and Light Street Capital co-led the round, bringing total funding to $177 million. Its rack-mounted ONE optical circuit switch reroutes data without converting signals to electrical form; the company says it has shipped its first-generation ONE-32 unit for about a year. iPronics said the capital will support a roughly 20-fold hardware size reduction, operational scaling and commercial rollout, and it has opened a Santa Clara office.