Ayar Labs, a U.S. optical-based chip developer, announced that it has raised $24 million in a Series A funding round.
The funding round was led by California-based venture capital firm Playground Global.
Additionally, Intel Capital, Founders Fund, semiconductor maker Globalfoundries also participated in Ayar Labs’ latest round.
Ayar Labs has raised a total of $26.5 million in over two funding round. On August 16, 2016, it closed $2.5 million in its seed round.