The American startup Luxtera last week completed its first financing round of $7 million.

The round was led by Sevin Rosen venture capital fund, which placed half of the capital. Other investors included August Capital, Caltech and ITV Ventures.

The money raised is earmarked for R&D. The company said that following the investment, John Oxaal from Sevin and Andrew Rappaport from August Capital are to join the board.

Luxtera, founded in December 2001, develops dense wavelength division multiplexing (DWDM) components based on nanophotonics, which enable transferring electricity and light on a single chip.

The company, located in Pasadena, California, was established by Israeli Eli Yablonovitch, a lecturer at UCLA.