China Materialia portfolio company Crowntech Photonics announced the completion of a new round of equity financing, led by Envision Capital, joined by existing investors. This round of financing will be mainly used for building a new production center in the Yangtze Delta area to expand production capacity, and further invest in research and development. Envision Capital is a leading venture capital fund in China. It is one of the earliest funds engaged in direct dollar investment in China. This round is the second time Crowntech Photonics has obtained recognition and support of top-tier VC firms.
Founded in April 2013, Crowntech Photonics is the industry's leading provider of integrated solutions for passive, high-end optical communication network. The company's mission is "to promote optical communications". Since its inception, the company has become a core supplier to a number of listed companies in the mainstream markets of the US, Japan and Korea. Benefiting from the explosive growth of global 5G and data center market demand, Crowntech Photonics has entered a rapid development track.
The continuous growth of data generated around the world has prompted the core of next-generation optical communication networks to be optimized for high performance, high reliability and size. Crowntech Photonics’ team with strong R&D capabilities adapt quickly to technology development directors and the trend of market demand.
Mr. Chao Zhu Chao, Managing Director of Envision Capital remarked: “Crowntech Photonics is lead by Dr. Chen who has deep technology background in the field. In addition, the company's management team has global vision. Crowntech has passed the rigorous testing of the world's top customers and became a core supplier to them. We are optimistic that Crowntech Photonics will become an industry leader as global 5G and data center industries take off.”