AES Semigas


16 April 2024

PhotonVentures’ second fundraising round of €15m raises total to €75m

Independent deep-tech venture capital fund PhotonVentures says that its second fundraising round of over €15m has been completed, bringing the fund’s total to the targeted €75m, following the first €60m round led by PhotonDelta and private investors.

PhotonVentures was spun off from PhotonDelta, which was founded in 2014 as a growth accelerator for the integrated photonic chip industry in the Netherlands and Europe. PhotonDelta has since invested in photonics companies and R&D, establishing a cross-border ecosystem of organizations that research, design, develop and manufacture solutions with integrated photonic chip technology. In 2022, PhotonDelta secured €1.1bn in public and private investment to scale up production, build 200 start-ups, create new applications for photonic chips and develop infrastructure and talent.

The PhotonVentures fund targets essential applications in data transmission, health diagnostics, and smart sensor systems, while also aligning with major global trends such as artificial intelligence (AI), augmented reality (AR), and virtual reality (VR).

PhotonVentures says that the latest fundraising strengthens its position in the Dutch and European ambitions in this strategically important emerging market. The latest funding round has been enabled by private and strategic investors, together with the support of the Brabant Development Agency (BOM), Oost NL (the East Netherlands Development Agency, which focuses on the provinces of Gelderland and Overijssel), research institute TNO (the Netherlands Organization for Applied Scientific Research in Delft), and the University of Twente.

PhotonVentures’ objective is to raise over €100m for the closure of its initial fund by the end of 2024. The fund focuses on seed to Series A investments, with participation ranging from €1m to €2.5m. With strategic support from the Dutch National Growth Fund and the European Chips Act for the Dutch and European ecosystem, PhotonVentures says that it is creating conditions for the growth of 20 deep-tech frontrunners to position themselves as international leaders within the European ecosystem.

PhotonVentures reckons that its commitment to integrated photonic technology and sustainable AI-driven trends uniquely positions the fund to promote significant economic growth and social progress.

“We are proud that BOM, Oost NL, TNO and University Twente came on board. It proves their belief that PhotonVentures is creating value for investors and sustainable economic impact for the Netherlands and the rest of Europe,” says PhotonVentures general partner Ewit Roos. “We also thank our new private and strategic investors for their trust and commitment to make this happen,” he adds.

“The further development of photonics is crucial for the future of the Dutch semiconductor ecosystem. It’s no coincidence that photonics is one of the key technologies for BOM,” says Marc Jansen, managing director investments at BOM. “To scale innovative companies in this sector, funds like PhotonVentures are indispensable. We anticipate collaborating intensively with all partners,” he adds.

“Many Dutch photonics companies are located around the universities in Eindhoven and Enschede. But also, the Noviotech Campus in Nijmegen is an important driver for innovations in photonics,” notes Freek Welling, director Capital at Oost NL. “PhotonVentures has previously invested in companies from our region such as Surfix and PHIX. We are pleased to have joined with other parties because we see the importance of the growth of photonics in our region, The Netherlands and Europe.”

See related items:

PhotonVentures raises €60m to invest in Europe’s photonic chip start-ups

New Origin secures €6m PhotonDelta funding to create independent photonic chip foundry

PhotonDelta gains €1.1bn funding, including €470m from Netherlands’ National Growth Fund

PhotonDelta, TNO, Eindhoven and Twente collaborating on Photonic Integration Technology Center

Tags: InP PIC




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