Downing Ventures has completed a $35 million Series B funding round in Ayar Labs as the co-lead investor. Ayar Labs is a Deep Tech organisation that is solving semiconductor interconnect (I/O), bandwidth and power bottlenecks by moving data using light, with its TeraPHY™ monolithic in-package electronic/photonic chiplet-based solution. The result is a vast improvement in bandwidth, bandwidth density, latency and power consumption across a wider distance.