Spanish silicon photonics company iPronics, based in Valencia, announced on Wednesday that it has completed a $125 million Series B funding round. The financing was co-led by Maverick Silicon and Light Street Capital, with participation from NVIDIA and other institutions. To date, iPronics' cumulative funding has reached $177 million. The funds will primarily be used to expand the company's operational scale and accelerate commercial deployment to meet the growing demand for its rack-mounted photonic switch, ONE, in artificial intelligence data centers. iPronics' core product is a programmable photonic circuit switch capable of reconfiguring optical paths within cabinets in sub-millisecond timeframes, aiming to reduce the size of existing equipment by approximately 20 times. Currently, the company has launched the 32-port ONE-32 product and plans to introduce 72-port and 144-port versions subsequently. These products have been shipping for about a year and are being collaborated on with large AI infrastructure providers. Founded in 2019 and originating from the Polytechnic University of Valencia, iPronics has already established offices in the United States. Following this funding round, the company plans to expand its local team and production scale. This funding round attracted participation from numerous new and existing shareholders, with two investors joining the board of directors, and Sun Zhenyao from Catalight serving as an advisor. Notably, NVIDIA's investment is a minority stake, with no specific shareholding ratio or exclusive supply arrangements disclosed.