April 13, 2024

Point2 Technology receives a $22.6 million Series B extension from Bosch Ventures and Molex

System-on-chip (SoC) designer and manufacturer Point2 Technology announced on Feb. 15 that it has secured a $22.6 million Series B extension from Bosch Ventures and Molex, with participation from other investors.

Point2 reports that the increase in funding comes as a response to the rising use of AI in data centers, with Dell’Oro Group reporting that a surge in AI infrastructure investment is expected to drive up data capex by 15% to $500 billion by 2027. Point2 reports that a key element of this growth will be in the data center switch market, positioning the company to capitalize on its interconnect silicon products.

Point2 founder and CEO Sean Park said in a press release, “We are thrilled to have support from Bosch, a Tier 1 supplier in the automotive industry, and from Molex as we advance our mission to revolutionize interconnect technology in AI/ML data centers and next-generation automotive applications. Our collaboration with Bosch underlines the importance and high potential of Point2’s low-power, low-latency, scalable interconnect technologies in the expansive automotive sector and further amplifies our impact in connecting AI workloads for the growing data center market.”

In addition, Point2’s partnership with Molex will serve to commercialize the company’s E-Tube technology.

Jairo Guerrero, vice president and general manager of Molex’s copper solutions business, said in the same press release, “Escalating network capacity demand in future AI/ML data center and automotive use cases requires a new approach to cable interconnect. Point2 has developed an E-Tube platform that can scale to the connectivity requirements of data centers and future automotive network architectures. Partnering with Point2 to commercialize E-Tube is a natural fit for Molex’s connectivity business and helps position our company to better respond to growing customer demands.”

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