About Covega
Covega is a Technology company based in Jessup (United States) founded in 2003, and was acquired by Thorlabs in March 2009. InP and LiNbO3 are supplied for high-performance optical devices. Covega has raised $27 million across 2 funding rounds from investors including Square 1 Bank, Thorlabs and Core Capital Partners. The company was acqui-hired. Its focus areas include Semiconductors, Photonics, Photonic Integrated Circuits and Material Platforms. Its competitors include CyOptics, Nexus Photonics and Aurrion; 3 of its 3 listed competitors have raised funding.
Company details
Covega was founded in 2003 and is based in Jessup, United States. InP and LiNbO3 materials are provided to enable production of optical devices and modules. Gain chips, semiconductor optical amplifiers, indium phosphide products, lithium niobate components, and foundry services are offered. The telecommunications, data communications, military, and cable television industries are served through these operations.
- Headquarters Jessup, United States
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website covega.com
- Social LinkedIn
- Acquired by Thorlabs (Mar 2009)
- Total Equity Funding$27M (USD)
in 2 rounds
- Latest Funding Round$10M (USD), Series A
Aug 2006
- InvestorsSquare 1 Bank
& 9 more
- Acquired byThorlabs
(Mar 2009)
Funding Insights of Covega
Covega has successfully raised a total of $27M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $10 million completed in August 2006. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $27M
- Total Rounds 2
- Last Round Series A — $10M
- First Round $17M
(Mar 2003)
- Investors Count 9
All 2 funding rounds of Covega with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2006 | $10M | Series A | – | Core Capital Partners, Intersouth Partners | |
| Mar 2003 | $17M | Series A | – | – |
10 investors in total: 10 institutional.
Investors in Covega
Covega has secured backing from 10 investors, including venture fund and institutional investors. Prominent investors backing the company include Square 1 Bank, Thorlabs and Core Capital Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Core Capital Partners is engaged in venture capital investments. | core-capital.com | Washington, Dc, United States | ||
Early-stage life sciences and tech focused VC firm funding companies in the US | intersouth.com | Durham, United States | ||
Venture investments in systems, infrastructure, and applications for enterprise founders. | next47.com | |||
Venture capital investments are offered to startups by NEA. | nea.com | Menlo Park, United States | ||
Venture capital is offered by Boulder Ventures for innovative companies. | boulderventures.com | Boulder, United States | ||
Government-backed investments are directed toward healthcare, fintech, and various sectors. | edbi.com | Singapore, Singapore | ||
Early-stage investments are made in US companies across key sectors. | kineticventures.com | Atlanta, United States | ||
| ocgventures.com | ||||
Venture debt, treasury, and cash management services are provided. | 2005 | square1bank.com | Durham, United States | |
Photonics equipment for multiple applications is manufactured. | 1989 | thorlabs.com | Newton, United States |
Investor details for Covega
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Timeline of Covega
4 dated milestones of Covega across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Covega is founded.
- Funding First funding round of $17.0M.
- Funding Latest funding round, Series A, of $10.0M.
- Exit Acquired by Thorlabs.
Competitors of Covega
Covega has 3 listed competitors in our database, 3 of them funded. They include CyOptics, Nexus Photonics and Aurrion.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| cyoptics.com | 1999 | United States | $111.47M | 380 | Provider of Indium phosphide-based optical chips | |
| nexusphotonics.com | 2018 | Goleta, United States | $5M | 14 | Photonic integrated circuits are developed using III-V semiconductor materials. | |
| aurrion.com | 2008 | Santa Barbara, United States | $22.58M | 55 | Silicon photonic platform with InP materials is provided for integration. |
Detailed competitors of Covega
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- Full competitor set
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Top companies in Optical & Photonics Technologies
3 companies that operate in the same segment as Covega (Optical & Photonics Technologies) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based network management software is provided for infrastructure planning. | 1992 | Hanover, New Hampshire, United States | USD 4.77 B | 8,660 | ||
Fiber lasers are developed and supplied for industrial applications. | 2000 | Vancouver, Washington, United States | USD 203.65 M | USD 261.33 M | 800 | |
Photon-based universal quantum computers are developed for error correction. | 2015 | Palo Alto, California, United States | USD 2.77 B | USD 1.04 M | 672 |
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Frequently Asked Questions about Covega
Covega was founded in 2003.
Covega is headquartered in Jessup, United States. It is registered at Jessup, Maryland, United States.
Covega is a funded company, having raised a total of $27M across 2 funding rounds to date. The company's 1st funding round was a Series A of $17M, raised on Mar 2003.
Covega was founded in 2003 and is based in Jessup, United States. InP and LiNbO3 materials are provided to enable production of optical devices and modules. Gain chips, semiconductor optical amplifiers, indium phosphide products, lithium niobate components, and foundry services are offered. The telecommunications, data communications, military, and cable television industries are served through these operations.
Covega's top competitors include CyOptics, Aurrion and Nexus Photonics.
Covega has 10 investors. Key investors include Square 1 Bank, Thorlabs, Core Capital Partners, Intersouth Partners, and Next47.
Yes. Covega was acquired by Thorlabs in March 2009.