Innovium, which is founded by the former executives of Broadcom and Cavium announced on Tuesday (March 14) that it has raised $38.3 million in funding to launch the advanced network switching chips. Which the company claims are much faster than its competition.

Innovium is run by 80 people and has now raised about $901 million, since it was founded in 2015.

Chief operating officer Rajiv Khemani of Indian-origin, who was previously CEO of Cavium a San Jose, based company, that his company’s 12.8 terabytes per second switches will be the fastest available in the market.

"Our product is focused on the data center and substantially leapfrogs what is currently available or has been announced," he said in an interview. "What is on the market today are generic, one-size-fits-all solutions that are sub-optimal for data centers,” Khemani said.

The powerful chips, which are used in networking has grown in a slow rate compared to those used for computing and storage, creating a problem that Khemani claimed that his company will solve.

The annual Cloud Index report of Cisco, projects that the data traffic at the large scale data centers will quintuple by 2020.

"We are now ready to ramp up our marketing and sales efforts, which most of this new funding will help us to do," Khemani said, adding that he hopes to take more space in the North San Jose building the company now leases from Polycom. Failing that, he hopes to find something nearby.

Innovium’s co-founder came from Broadcom. Chief Technology Officer Puneet Agarwal was senior director and distinguished engineer there. Whereas Engineering Vice President Mohammed Issa was Broadcom’s engineering vice president.

Redline Capital led the last round of funding, followed by Greylock Partners, Walden Riverwood Ventures, Capricorn Investment Group, Qualcomm ventures and S-Cubed Capital.

Political events in Bay Area this week

AMandeep