OneChip, an OBJ Startup to Watch in 2010, says the money comes from five venture capital firms with existing investments in the company: BDC Venture Capital, DCM, GrowthWorks, Morgenthaler Ventures and Northwater Capital Management.
OneChip has spent six years developing an optical transceiver device intended to act as a terminator for fibre-to-the-home broadband, to be sold at a lower cost than its competitors.
CEO Jim Hjartarson anticipates shipping thousands of optical modules this year. Next year, he expects that OneChip will ship hundreds of thousands of optical modules and millions in 2014.
In May 2011, the company raised $18 million from the Business Development Bank of Canada, GrowthWorks Capital, Morgenthaler Ventures and DCM, all previous financiers. A new investor, Northwater Capital Management Inc., also came on board. The company has raised $50 million over several rounds.
OneChip has 88 employees globally, with about 78 based in Canada.
Editor's note: An earlier version of this story contained misleading figures based on numbers contained in an SEC filing, which including debt converted to equity as part of the new finances. While the SEC filing indicated that OneChip executives were among the investors, a company spokesperson said this was not the case.