TLDR:
PhotonVentures, a venture capital fund focused on integrated photonics, has raised an additional €15 million in its second round of fundraising, bringing the total raised to €75 million. The fund aims to reach €100 million by the end of 2024 and focuses on early-stage investments in essential applications like data transmission, health diagnostics, and smart sensor systems. Strategic investors include organizations like BOM, Oost NL, TNO, and the University of Twente. The fund has previously backed companies like MantiSpectra and Brilliance, working on spectrometers and laser modules for AR glasses.
Article:
PhotonVentures has announced that it has raised an additional €15 million in its second round of fundraising, bringing the total amount raised so far to €75 million. The fund is aimed at supporting early-stage developments in integrated photonics and has a target of reaching €100 million by the end of 2024.
When the initial fund of €60 million was announced last August, PhotonVentures had set a target fundraising range of between €100 million and €150 million by the start of 2024. The recent top-up in funding came from a mix of private and strategic investors, including entities like the Brabant Development Agency (BOM) and TNO.
The fund is focused on essential applications in areas such as data transmission, health diagnostics, and smart sensor systems. It also aligns with major global trends like artificial intelligence (AI), augmented reality (AR), and virtual reality (VR).
Some of the companies backed by PhotonVentures include MantiSpectra, which is developing miniaturized spectrometers based on indium phosphide (InP) photonic chips, and Brilliance, whose laser modules are targeted at AR glasses.
The enthusiasm shown by investors in participating in this round reflects confidence in PhotonVentures’ mission to support growth in the integrated photonics semiconductor industry. Ewit Roos, general partner at PhotonVentures, expressed pride in the support from organizations like BOM, Oost NL, TNO, and the University of Twente, highlighting the importance of photonics for the future of the Dutch semiconductor ecosystem.
Overall, the fund’s focus on driving innovation in photonics and its strategic investments in key technologies demonstrate its commitment to creating value for investors and contributing to sustainable economic impact in the Netherlands and Europe.
