Innovium raises $50 million for networking chips in data centers

Innovium has raised $50 million in funding across two rounds to develop networking infrastructure products for next-generation data centers. The company is disclosing those rounds for the first time.

The company’s products are designed to help companies deal with a bunch of trends, such as the continued adoption of mobile, video, anything-as-a-service (XaaS), big data analytics, and Internet of Things (IoT, or making everyday objects smart and connected).