FundraiseOct 1, 2026, 00:56 UTC

Intervest backs Avicena'US$7.33M Series C in AI optical interconnect race

What's the deal? South Korean venture firm Intervest has invested $10 million in Avicena, a Sunnyvale, California startup developing micro LED-based optical interconnect technology, joining its Series C round. The deal adds to a growing roster of semiconductor heavyweights already backing the company.

What's the endgame? Founded in 2019, Avicena builds "LightBundle," a technology that uses micro LEDs to convert electrical signals into light, transmitting data across hundreds of channels through fibre optic bundles. The goal: cut power consumption during data transfers between chips in AI systems.

Why now? Data bottlenecks and power efficiency between AI computing chips and memory have become pressing issues. Avicena's approach is seen as a way to overcome the short transmission distances of copper wires while using less power than laser-based optical links.

The backers: Samsung Electronics and SK Hynix have invested previously. Samsung Catalyst Fund and Micron Ventures joined US$16.2M Series A in August 2022, while SK Hynix backed US$42.1M Series B led by Tiger Global last May. Timefolio Asset Management and Kingsley Ventures have also invested.

New leadership: Last September, Avicena named Marco Chisari — formerly head of Samsung Electronics' US foundry business and its Semiconductor Innovation Center — as chief executive officer. Co-founder Bardia Pezeshki, the previous CEO, moved to chief technology officer.

The signal: For Intervest, the bet deepens a portfolio focused on optical connection technology for AI infrastructure. It follows the firm's investment in the $40 million Series A of US optical semiconductor company Quintessent last August — a sign of where capital is flowing as AI data centres strain against the limits of traditional wiring.